daily gold silver price forecast 27th april 2016

By | April 27, 2016

Gold forecast

Yesterday gold ( xauusd ) price tested 1230$ zone but then it fired after giving a fake sell signal on chart . We did’nt initiated any sell as we are being cautious due to fomc minutes today . Currently prices are trading at 1244$ . A good resistance on chart stands at 1252$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect xauusd to test upto 1260$ – 1266$ in today’s trading session .

A good support on gold chart stands at 1227$ . If traders break this major support level and manage to sustain beneath our support today . Then expect xauusd to test upto 1220$ – 1209$ in today’s trading session .

Gold forecast conclusion : Trend is positive for now but wait for FOMC interest rate decision to take any major trade in market .

Silver forecast

Yesterday silver made low of 16.82$ and then bounced back upto 17$ . Currently prices are trading at 17.30$ . A good resistance on silver chart stands at 17.52$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect xagusd to zoom upto 17.75$ – 17.99$ in today’s trading session .

A good support on silver chart stands at 17$ . If traders manage to break this support level and sustain trade beneath our support today . Then expect xagusd to correct upto 16.80$ – 16.55$ in today’s trading session .

Silver forecast conclusion : Silver outperforming gold today but wait for fomc event to take any major trade today . Trend is positive for now .

More will update to our trading signal subscribers