Gold forecast
Comex gold price trading lower as expected due to easing tensions between US and North Korea resulting higher dollar index. Currently prices are trading at 1334$, A good support on xau/usd chart stands at 1325$, If traders break this major base and manage to sustain trade below our support. Then expect more pressure in gold price upto 1317$ – 1308$ today.
A good resistance on xau/usd chart stands at 1342$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect some recovery in gold price upto 1350$ – 1355$.
Gold price forecast conclusion: Gold trend is flat to weak for now.
Silver support stands at 16.90$, Resistance 17.28$, Trend flat to weak for now.
Forex forecast
Eur/Usd trading lower at 1.2273 due to higher dollar, A good support on this major forex pair stands at 1.2240. If traders take this base out and manage to sustain trade below our support. Then expect more pressure in in euro upto 1.2200- 1.2160 today.
A good hurdle on this major forex pair stands at 1.2305, If traders breaks this major hurdle and manage to sustain trade above our resistance. Then expect good recovery in euro upto 1.2349- 1.2399.
Euro trend is flat to weak for now.
Usd/Jpy trading higher at 107.85 following dollar strength. A good base on this major forex pair stands at 107.50, If traders break this major base and manage to sustain trade below our support. Then expect more pressure in usd/jpy upto 107.05, 106.50 today.
A good hurdle on this major forex pair stands at 108.20, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect more firepower in usd/jpy upto 108.70- 109.
Usd/Jpy trend is flat to positive for now.
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