Gold and Forex analysis 11th Jan 2018

By | January 11, 2018

Gold analysis

Comex gold price trading at 1317$ , last night it tested 1322$ as china announced it would reduce buying US treasuries , but it could not sustain on higher levels and started retracing . A good support on gold chart stands at 1307$ , if traders take this base out and manage to sustain trade below our support today . Then expect good crack in gold prices upto 1300$ – 1292$ today .

A good resistance on daily gold chart stands at 1328$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in gold price upto 1336$ – 1344$ .

Gold analysis conclusion : Comex gold price trend is flat for now , follow key levels to trade .

Forex analysis

Eurusd trading at 1.1950 , its trying to recover after US dollar fall yesterday on china’s announcement . Currently a good base level on this forex chart stands at 1.1905 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in eurusd upto 1.1860 – 1.1810 .

A good hurdle on this forex chart stands 1.2005 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in eurusd upto 1.2060 – 1.2120 .

Eurusd trend is flat to weak for now .

Usdjpy trading higher at 111.69 , It seems to formed a double bottom on chart . A good base on this forex chart stands at 111.20 , if traders tank this base and manage to sustain trade below this key support . Then expect good pressure in usdjpy upto 110.90 – 110.50 .

A good hurdle on this forex chart stands at 112.05 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower upto 112.40 – 112.80 .

Usdjpy trend is flat to positive for now .

More will update to our signals subscribers .

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