Gold and Forex analysis 29th Jan 2018

By | January 29, 2018

Gold analysis

Comex gold price trading at 1348$ slightly lower from its friday’s closing . A good support on xauusd chart stands at 1340$ , if traders tank this base and manage to sustain trade below our support today . Then expect more pressure in gold price upto 1332$ – 1325$ .

A good resistance on xauusd chart stands 1356$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in gold price upto 1364$ – 1371$ .

Gold analysis conclusion : Comex gold price trend is flat for now , watch levels for further trend either side breakout will decide the fate of precious metals .

Forex analysis

Eurusd trading at 1.2416 , its trading slightly weaker from its friday’s closing . A good base on this forex pair stands at 1.2370 , if traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in euro upto 1.2340 – 1.2300 .

A good resistance on this forex pair stands at 1.2460 , if traders break this major hurdle and manage to sustain trade above our resistance today . Then expect good firepower in euro upto 1.2500 – 1.2540 .

Eurusd trend is flat to weak for now .

Usdjpy trading at 108.77 , slightly higher from its last week’s closing . A good base level on this forex pair stands at 108.40 , if traders tank this base and manage to sustain trade below our support today . Then expect good pressure in usdjpy upto 108 – 107.70 .

A good hurdle on this forex pair stands at 109.20 , if traders break this major hurdle and manage to sustain trade above or resistance today . Then expect some recovery in usdjpy upto 109.60 – 110 .

Usdjpy trend is flat to positive for now .

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