Gold analysis
Comex gold price trading higher today at 1337$ , yesterday it tested 1328$ and now bouncing back on weak dollar . A good support on xauusd chart stands at 1325$ , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in gold price upto 1317$ – 1308$ .
A good resistance on xauusd chart stands at 1342$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower upto 1351$ – 1359$ .
Gold analysis conclusion : Comex gold trend is flat to positive for now .
Forex analysis
Eurusd trading at 1.2266 this fx pair trading slightly higher , a good resistance level on this forex pair stands at 1.2305 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in eurusd upto 1.2360 – 1.2420 .
A good base on this forex chart stands at 1.2230 , if traders take this base out and manage to sustain trade below our support today , then expect good pressure in eurusd upto 1.2200 – 1.2160 .
Eurusd trend is flat to positive for now .
Usdjpy trading at 110.77 , it fired last night till 111.20 and then crashed after BOJ kept interest rate unchanged . A good base on this forex chart stands at 110.40 , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in usdjpy upto 110 – 109.60 .
A good hurdle on this forex chart stands at 111.25 , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect good firepower upto 111.60 – 112 .
Usdjpy trend is weak for now .
This week we have ECB monetary policy . Stay cautious .
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