Gold and Forex analysis 10th Jan 2018

By | January 10, 2018

Gold analysis

Comex gold price trading at 1311$ , it crashed from 1320$ and we enjoyed this crash as our sell initiated around 1318$ . A good support on gold chart stands at 1300$ , if traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 1292$ – 1284$ .

A good resistance on gold chart stands at 1322$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in gold upto 1329$ – 1337$ .

Gold analysis conclusion : Comex gold trend is weak for now , avoid any major buy for now .

Forex analysis

Eurusd trading at 1.1929 , it crashed further and tested 1.1910 yesterday . A good base level on this forex chart stands at 1.1890 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in eurusd upto 1.1850 – 1.1805 .

A good hurdle on this forex chart stands at 1.1960 , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect good firepower in eurusd upto 1.1999 – 1.2040 .

Usdjpy crashing since Monday and its testing new lows everyday . Currently its flirting with 112.40 , A good base level on this forex chart stands at 112 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in usdjpy upto 111.70 – 111.40 today .

A good hurdle on this forex chart stands at 112.70 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in usdjpy upto 113.10 – 113.50 .

UsdJpy trend is flat to weak for now .

We have manufacturing data from UK today and US crude oil inventories . Keep an eye on both data .

Silver analysis can be seen here

More will update to our signals subscribers .