Gold forecast
Gold ( xauusd ) price trading at 1161$ . Its trading in a small range since whole market is waiting for tonight’s big event . FOMC meet decision will be out today whether Fed wants to hike rate this month or not . Most probably we will see again more talks and less work and no major cut .
A good support on daily chart stands at 1148$ . If traders break this major level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1140$ – 1132$ today .
A good resistance on daily chart stands at 1171$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect gold price to test upto 1179$ – 1185$ today .
Gold forecast conclusion : Trend is very flat as market awaits today’s Fed meet outcome . So trade small qty .
Silver forecast
Silver ( xagusd ) price trading at 16.94$ . Yesterday it tested 16.76$ and bounced back . A good base level on today’s chart stands at 16.70$ . If traders break this major level and manage to sustain trade beneath our support today . Then expect silver prices to test upto 16.50$ – 16.25$ today .
A good hurdle on daily chart stands at 17.25$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 17.55$ – 17.88$ today .
Silver forecast conclusion : Xagusd trend is flat for now .
More will update to our trading signal subscribers .