Gold analysis
Comex gold price trading at 1318$ , xauusd crashed badly after dollar index tested 90 last night . A food support on xauusd chart stands at 1307$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold price upto 1300$ – 1291$ .
A good resistance on xauusd chart stands at 1328$ , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect some mild recovery in gold upto 1337$ – 1345$ .
Gold analysis conclusion : Comex gold trend is weak for now , avoid major buy .
Silver support 16.25$ , resistance 16.60$ . Trend is weak .
Forex analysis
Euro crashed last night after good rise of dollar basket . Currently euro trading at 1.2220 . A good base on this forex chart stands at 1.2180 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2150 – 1.2105 today .
A good hurdle on this forex pair stands at 1.2280 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect euro to test upto 1.2320 – 1.2360 .
Euro trend is weak for now .
Usdjpy trading at 107.15 it recovered almost 80 pips from its low yesterday . A good base on this fx pair stands at 106.70 . If traders take this base out and manage to sustain trade below our support . Then expect more pressure in usdjpy upto 106.50 – 106.20 .
A good hurdle on this major fx pair stands at 107.50 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in usdjpy upto 107.80 – 108.20 .
Usdjpy trend is positive for now .
More will update to our signals subscribers .