Gold analysis
Comex gold ( xauusd ) price trading at 1318$ , its trading a bit weaker than its friday closing . A good support on daily gold chart stands at 1307$ , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure on gold price upto 1300$ – 1291$ .
A good resistance on daily gold chart stands 1327$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in gold price upto 1333$ – 1340$ today .
Gold analysis conclusion : Comex gold price trend is flat to positive for now , but stay cautious on these levels as profit may booking not ruled out .
Forex analysis
Eur/Usd trading at 1.2020 , it tested above 1.2080 last week and then started retrace from peak , a good base level on daily forex chart stands at 1.1990 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in eurusd upto 1.1950 – 1.1905 today .
A good hurdle on daily forex chart stands at 1.2090 , if traders take this hurdle out and manage to hold above our resistance today , then expect eurusd to test upto 1.2140 – 1.2180 .
Eurusd trend is flat to weak for now .
Usdjpy trading at 113.20 a bit higher from its friday closing . A good base level on this forex chart stands at 112.90 , if traders take this base out and manage to sustain trade below this base , then expect more pressure in usdjpy upto 112.40 – 112 today .
A good hurdle on this forex chart stands at 113.62 , if traders take this hurdle out and mange to sustain trade above our resistance today . Then expect good firepower in usdjpy upto 114 – 114.40 .
UsdJpy trend is flat to positive for now .
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