Gold analysis
Comex gold price making new lows every day as dollar index march towards new recovery . Currently xauusd trading at 1313$ almost at lowest point of the day . A good support on xauusd chart stands at 1306$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold price upto 1300$ – 1292$ today .
A good resistance on xauusd chart stands at 1325$ , if traders manage to beat this hurdle and sustain trade above our resistance . Then expect some recovery in gold price upto 1332$ – 1340$ .
Gold analysis conclusion : Comex gold trend is weak for now .
Forex analysis
Euro trading pretty lower at 1.2190 , Eurusd crashed yesterday after dollar index tested 90.25 . A good support on this forex pair stands at 1.2150 . If traders take this base out and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2110 – 1.2070 today .
A good hurdle on this forex pair stands at 1.2240 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect some recovery in eurusd upto 1.2280 – 1.2320 .
Euro trend is flat to weak for now .
Usdjpy trading at 106.76 , despite good gains in dollar basket . A good base on this fx pair stands at 106.45 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in usdjpy upto 106.05 – 105.70 .
A good hurdle on this fx pair stands at 107.05 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect more firepower in usdjpy upto 107.40 – 107.80 .
Usdjpy trend is flat to positive for now .