Gold and Forex analysis 20th Dec 2017

By | December 20, 2017

Gold analysis

Comex gold price tested 1267$ and then retraced back till 1259$ . Currently flirting with 1264$ its trying to recover . A good support on daily chart stands at 1257$ , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure on gold price upto 1250$ – 1242$ today .

A good resistance on daily chart stands at 1274$ , if traders take this hurdle out and manage to sustain above our resistance today . Then expect good firepower in gold price upto 1280$ – 1288$ .

Gold analysis conclusion : Comex gold trend is flat to positive for now .

Forex analysis

Usd/Jpy trading at 112.97 , it tested above 113 last night as dollar index strengthen and dow jones tested new highs . A good base level on daily fx chart stands at 112.70 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this forex pair upto 112.30 – 112 .

A good hurdle on daily chart stands at 113.20 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this forex pair upto 112.50 – 112.80 .

Usd/Jpy trend is flat to weak for now , avoid buy before this fx pair hit our resistance .

Eur/usd trading at 1.1837 , It recovered very nicely yesterday from lows . A good hurdle on daily fx chart stands at 1.1860 , if traders take this hurdle out and manage to hold above our resistance . Then expect good firepower in this forex pair upto 1.1899 – 1.1930 .

A good base on this fx pair stands at 1.1800 , if traders take this base out and manage to sustain trade below our support today . Then expect some weakness in this forex pair upto 1.1750 – 1.1700 .

Eur/Usd trend is positive for now .

More will update to our signals subscribers .