Gold analysis
Comex gold price trading at 1323$ , it opened higher today following weak dollar index . A good support on xauusd chart stands at 1317$ , if traders break this base and manage to sustain trade below our support . Then expect good pressure in gold prices upto 1308$ – 1300$ .
A good resistance on xauusd chart stands at 1331$ , if traders take this hurdle out and manage to sustain trade above our resistance then expect some recovery in gold price upto 1338$ – 1346$ .
Gold analysis conclusion : Comex gold trend is flat for now , follow technical levels to trade .
Silver support at 16.30$ , resistance at 16.55$ . Trend flat .
Forex analysis
Euro trading at 1.2282 , eurusd also trading higher due to weak dollar basket . A good hurdle on this forex pair stands at 1.2320 , if traders cut through this hurdle and manage to hold above our resistance , then expect good firepower in euro upto 1.2360 – 1.2400 .
A good base on this forex pair stands at 1.2240 , if traders take this base out and manage to sustain trade below our support today , then expect good pressure in euro upto 1.2200 – 1.2160 .
Euro trend is flat to positive for now .
Usdjpy trading at 108.68 , it opened slightly lower today , a good base on this major forex pair stands at 108.40 , if traders tank this base and manage to sustain trade below our support , then expect good pressure in yen upto 108.05 – 107.70 .
A good hurdle on this forex pair stands at 109.05 , if traders breaks this hurdle and manage to sustain trade above our resistance , then expect good firepower upto 109.40 – 109.80 .
Usdjpy trend is flat to positive for now .
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