Gold
Spot gold price trading at 1202$ slightly higher than yesterday but its trading in a small range since Monday. Traders are cautious as we have FOMC meet outcome tonight and we will see how Fed responds to rising tensions between US and China. Dollar Index is in slight decline since Monday and its favoring positive xauusd prices.
Today we will see how Fed will respond to fresh new tariff imposed by US in Chinese goods. Beijing is yet to respond on these tariff and we may see Fed’s plan if Beijing plans to retaliate with additional tariff on US goods.
Technical gold chart has a good support at 1190$. If market break and sustain below this level. Then expect good pressure in xauusd price till 1182$- 1175$.
Resistance stands at 1210$ in gold. Once traders break and sustain above our resistance today. Then expect good buying in xauusd till 1218$- 1226$.
Silver
Spot silver price fired yesterday and our subscribers enjoyed it. We booked more than 100 pips profit. I gave this signal in chat room too as our daily free signal. ( Click here to join chat room ). Currently xagusd trading at 14.49$. A good support in silver price stands at 14.25$. If traders break and sustain below this level. Then expect good pressure in xagusd till 14.05$. 13.90$.
Resistance in silver price stands at 14.75$. If market break and sustain above our resistance. Then expect good rise in xagusd price till 14.99$- 15.20$.
Crude oil
Nymex crude oil price trading at 72.10$. Its hovering in positive zone since Monday. A good resistance in oil prices stands at 71.10$. If market break and sustain below this level. Then expect good pressure in this major commodity till 70$- 69.20$.
Resistance in crude oil price stands at 73.20$. If traders break and sustain above our resistance. Then expect good rise till 74.20$- 74.90$ today.
Euro
Euro trading slightly lower today after yesterday’s highs. Currently trading at 1.1760. A good base on this major forex pair stands at 1.1720. If market break and sustain below this level. Then expect good pressure in eurusd till 1.1680- 1.1650.
Resistance in euro chart stands at 1.1805.If market break and sustain above our resistance. Then expect good rise till 1.1850- 1.1890.
Conclusion
Comex Gold, Silver trend is positive for now but wait for Fed meeting outcome before taking any big position. Crude oil is positive and Euro is flat to weak for now.