Gold forecast
Gold ( xauusd ) price were trading flat before FOMC meeting . Fed decided to keep interest rate unchanged but lowers outlook for further changed . It showed fed is still not very confident on economy . This caused a sudden fire in gold prices and it tested 1262$ last night . Currently prices are trading at 1258$ . A good resistance stands on daily gold chart at 1265$ . If traders break this hurdle and manage to sustain trade above our resistance . Then expect xauusd to zoom upto 1272$ – 1281$ today .
A good support on gold chart today at 1241$ . If traders break this support and manage to sustain trade below our level . Then expect market to correct upto 1232$ – 1223$ today .
Gold forecast conclusion : Trend is positive for now . But avoid any major fresh buying on these levels .
Silver forecast
Silver ( xagusd ) price jumped from 15.20$ to 15.60$ yesterday after fomc statement . Currently prices are trading at 15.59$ . A good resistance on silver chart stands at 15.85$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect xagusd to zoom upto 16.05$ – 16.31$ today .
A good support on silver chart today at 15.30$ . If traders break this support today and manage to sustain trade beneath this level . Then expect xagusd to correct upto 15$ – 14.80$ today .
Silver forecast conclusion : Trend is positive for now . But no buy recommendation on these levels .
More will update to our trading signal subscribers .