Gold analysis
Comex gold price firing since yesterday and tested 1361$ in morning session . Currently cruising at 1358$ , a good support on xauusd chart stands at 1348$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold price upto 1340$ – 1332$ .
A good resistance on xauusd chart stands at 1366$ , if traders take this hurdle out and manage to sustain trade above our resistance , then expect more firepower in gold price upto 1372$ – 1380$ .
Gold analysis conclusion : Comex gold trend is positive for now .
Silver support stands at 16.60$ resistance at 17.15 , Trend is positive for now .
Forex analysis
Euro trading higher at 1.2545 , a good base on this major forex pair stands at 1.2500 . If traders tank this base and manage to sustain trade below our support then expect more pressure in euro upto 1.2460 – 1.2420 today .
A good hurdle on this forex pair stands at 1.2580 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect more firepower in euro upto 1.2620 – 1.2660 .
Euro trend is positive for now avoid major sell in this fx pair .
Usdjpy trading pretty lower today as it crashed yesterday once again following weak dollar basket . Currently its trading at 105.70 , a good base on this major forex pair stands at 105.20 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in usdjpy upto 104.80 – 104.30 .
A good hurdle on this forex pair stands at 106.20 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good recovery in usdjpy upto 106.50 – 106.90 .
Usdjpy trend is weak for now avoid any major buy in this fx pair .
More will update to our signals subscribers .