Gold analysis
Comex gold price trading higher today at 1335$ , xauusd trading positive since yesterday as dollar index sinking slowly and currently trading at 89.10 . 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 prices upto 1318$ – 1308$ today .
A good resistance on xauusd chart stands at 1342$ , if traders take this hurdle out and manage to sustain trade above our resistance then expect good recovery in gold price upto 1350$ – 1358$ .
Gold analysis conclusion : Comex gold trend is positive for now .
Dollar Index analysis
US Dollar basket ( DXY ) trading lower since last 2 days as it tanked from 90.20 to almost 89 . Currently flirting with 89.15 . A good support on dollar stands at 88.80 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in dollar basket upto 88.51 – 88.20 .
A good hurdle on dollar basket chart stands at 89.52 , if traders break this hurdle and manage to sustain trade above our resistance . Then expect good recovery in DXY upto 89.90 – 90.20 , above 90.25 more firepower not ruled out .
Dollar Index analysis conclusion : Dollar trend is is flat to weak for now .
More will update to our trading signals subscribers .