Gold analysis
Comex gold price trading at 1256$ , its trading slight positive from its friday’s closing . This week’s main highlight would be US tax reform which will lower corporate tax from 35% to 21% . A good support on daily chart stands at 1248$ , if traders break this base key and manage to sustain price below our support today . Then expect more pressure on gold price upto 1241$ – 1233$ today .
A good resistance on daily chart stands at 1266$ , if traders jump through this hurdle and manage to hold above our key resistance today . Then expect good recovery in gold price upto 1273$ – 1280$ .
Gold analysis conclusion : Comex gold trend is flat to positive for now .
Forex analysis
Eur/usd trading at 1.1770 almost at highest level of the day . A good hurdle on daily fx chart stands at 1.1810 , once traders break this major hurdle and manage to hold above our resistance . Then expect good firepower in this forex pair upto 1.1850 – 1.1890 .
A good base on daily fx chart stands at 1.1730 , if traders break this base and manage to hold below our support . Then expect good pressure in this forex pair upto 1.1700 – 1.1660 .
Eur/usd trend is flat to positive for now .
Usd/Jpy trading flat at 112.65 , a good base level on daily fx chart stands at 112.30 . If traders take this base out and manage to sustain trade below our support then expect this forex pair to tank upto 112 – 111.70 .
A good hurdle on daily fx chart stands at 112.99 , if traders take this hurdle out and manage to sustain trade above our key hurdle today . Then expect good firepower in this forex pair upto 113.30 – 113.70 .
Usd/Jpy trend is flat to weak for now .
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