Gold forecast
Comex gold price trading at 1316$ , last night xauusd recovered from 1309$ and tested 1319$ . A good support on xauusd chart stands at 1308$ , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in gold price upto 1300$ – 1292$ .
A good resistance on xauusd chart stands at 1326$ , if traders break this barrier and manage to sustain trade above our resistance . Then expect good recovery in gold price upto 1334$ – 1342$ today .
Gold forecast conclusion : Comex gold trend is flat to positive for now .
Silver support 16.20$ , resistance 16.55$ . Trend flat to positive .
Forex forecast
Euro trading at 1.2342 pretty higher than yesterday morning . Good recovery came after dollar index gave some dip . A good hurdle on this forex pair stands at 1.2380 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in euro upto 1.2420 – 1.2460 .
A good base on this major forex pair stands at 1.2300 , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in euro upto 1.2270 – 1.2240 .
Eurusd trend is positive for now .
Usdjpy trading higher at 106.30 , it recovered smartly last night despite weakness in dollar index . A good base on this major fx pair stands at 105.90 , If traders take this base out and manage to sustain trade below our support . Then expect more pressure in usdjpy upto 105.50 – 105.10 .
A good hurdle on this major fx pair stands at 106.60 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good firepower in usdjpy upto 106.99 – 107.40 .
Usdjpy trend is flat to positive for now .
Market is highly volatile so stay cautious and use strict stoploss .
More will update to our signals subscribers .