Gold and Forex analysis 08th Jan 2018

By | January 8, 2018

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 .

Read our weekly gold silver forecast here

Our 2018 market outlook can be seen here which has bitcoin analysis as well

More will update to our signals subscribers .