Gold analysis
Comex gold price tested 1307$ last night and recovered approx 10-12$ from its lowest point on short covering . Currently xauusd flirting with 1320$ , a good support on xauusd chart stands at 1327$ , if traders break this major hurdle and manage to sustain trade above our resistance , then expect good firepower in gold price upto 1334$ – 1341$ .
A good support on xauusd chart stands at 1307$ , if traders take this base out and manage to sustain trade below our support today , then expect good pressure in gold price upto 1300$ – 1291$ .
Comex gold analysis conclusion : Comex gold trend is flat for now , follow key levels to trade .
Silver support at 16.20$ , resistance at 16.55$ , trend flat to weak .
Forex analysis
Usdjpy trading at 109 after making lows near 108.60 last night . A good base on this forex pair stands at 108.50 , if traders take this base out and manage to sustain trade below our support today then expect good pressure in yen upto 108.05 – 107.60 .
A good hurdle on this major forex pair stands at 109.50 , if traders break this hurdle and manage to sustain trade above our resistance today , then expect good firepower in yen upto 109.90 – 110.30 .
Usdjpy trend is flat to positive for now .
Eurusd trading at 1.2265 , euro trading almost flat since yesterday . A good support on this fx pair stands at 1.2220 , if traders tank this base and manage to sustain trade below our support today . Then expect more pressure in euro upto 1.2170 – 1.2140 .
A good hurdle on this fx pair stands at 1.2320 , if traders break this major hurdle and manage to sustain trade above our resistance , then expect good recovery in euro upto 1.2360 – 1.2400 .
Eurusd trend is flat to positive for now .
More will update to our trading signals subscribers .