Gold analysis
Comex gold price trading lower today at 1340$ , xauusd prices trading very volatile since last week as it keep giving false breakouts and break down . Market is facing low volumes as main china is on leave due to new year holiday . A good base on xauusd chart stands at 1332$ , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in gold price upto 1325$ – 1317$ .
A good resistance on xauusd chart stands at 1352$ , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good recovery in gold price upto 1360$ – 1366$ above 1366$ expect good firepower in gold upto 1375$ – 1383$ .
Gold analysis conclusion : Comex gold trend is weak for now .
Forex analysis
Euro trading lower today at 1.2385 following strong dollar index which is trading above 89 . A good base on this forex pair stands at 1.2340 . If traders take this base out and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2300 – 1.2250 .
A good hurdle on this forex pair stands at 1.2430 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good recovery in euro upto 1.2470 – 1.2510 .
Euro trend is weak for now .
Usdjpy trading higher today at 106.90 almost at highest point of the day . A good base on this fx pair stands at 106.40 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in yen upto 106 – 105.50 .
A good hurdle on this fx pair stands at 107.40 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good firepower in yen upto 107.80 – 108.20 .
Usdjpy trend is positive for now .
More will update to our signals subscribers .