Gold forecast
Comex gold price trading at 1335$ , its trading pretty higher since yesterday . A good support on xauusd chart stands at 1327$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold prices upto 1320$ – 1312$ .
A good resistance on xauusd chart stands at 1342$ , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good firepower in gold price upto 1350$ – 1358$ .
Gold forecast conclusion : Comex gold price trend is positive for now , avoid any major sell trade .
Silver resistance at 16.92$ , support at 16.50$ . Trend is positive .
Forex analysis
Eurusd trading higher at 1.2430 as dollar index tanked last night and still trading lower . A good base on this forex pair stands at 1.2390 , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in euro upto 1.2350 – 1.2300 .
A good hurdle on this forex pair stands at 1.2470 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good firepower in eurusd upto 1.2500 – 1.2533 today .
Euro trend is positive for now .
Usdjpy trading at 105.60 pretty lower since yesterday . A good base on this fx pair stands at 105.20 , if traders tank this base and manage to sustain trade below our support . Then expect good pressure in usdjpy upto 104.80 – 104.30 .
A good hurdle on this major fx pair stands at 106 if traders break this hurdle and manage to sustain trade above our resistance , then expect some recovery in usdjpy upto 106.40 – 106.80 .
Usdjpy trend is flat to weak for now .