Gold and Forex analysis 22nd Feb 2018

By | February 22, 2018

Gold analysis

Comex gold price trading at 1324$ , it tested 1336$ and then crashed after FOMC minutes . Today we have ECB meeting minutes . A good support on xauusd chart stands at 1317$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold price upto 1308$ – 1300$ .

A good resistance on xauusd chart stands at 1338$ , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good recovery in gold price upto 1345$ – 1353$ .

Gold analysis conclusion : Comex gold trend is weak for now .

Silver support at 16.30$ , resistance 16.75$ . Trend is weak .

Forex analysis

Euro trading at 1.2275 , it crashed last night after FOMC minutes . A good base on this forex pair stands at 1.2250 . If traders take this base out and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2210 – 1.2170 .

A good hurdle on this forex pair stands at 1.2320 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect some recovery in euro upto 1.2360 – 1.2400 .

Euro trend is weak for now .

Usdjpy trading at 107.42 , last night it tested 107.90 and then crashed to test till 107.12 . A good base on this fx pair stands at 106.90 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in usdjpy to test upto 106.50 – 106.20 .

A good hurdle on this fx pair stands at 107.92 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in usdjpy upto 108.30 – 108.70 today .

Dollar index is very volatile for now , avoid any major trades till it settles down .

Usdjpy trend is flat to weak for now .

More will update to our signals subscribers .

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