Gold forecast
Comex gold price trading at 1328$ yesterday it tanked till 1314$ after US data and recovered very fast and tested 1327$ . A good support on xauusd charts tands at 1318$ , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in gold price upto 1308$ – 1300$ today .
A good resistance at 1336$ , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower upto 1344$ – 1350$ today .
Gold forecast conclusion : Comex gold trend is positive for now .
Silver support at 16.48$ resistance at 16.75$ . Trend is positive for now .
Forex analysis
Euro trading higher at 1.2402 , a good support on this forex pair stands at 1.2370 . If traders take this base out and manage to sustain trade below our support . Then expect good pressure in eur/usd upto 1.2340 – 1.2300.
A good hurdle on this major forex pair stands at 1.2440 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in eurusd upto 1.2480 – 1.2520 .
Euro trend is flat to positive for now .
Usdjpy trading at 106.57 , It made low at 106.35 and now trading 20 pips higher . A good base on this fx pair stands at 106.20 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in usdjpy upto 105.80 – 105.40 .
A good hurdle on this fx pair stands at 106.92 . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good recovery in usdjpy till 107.30 – 107.70
Usdjpy trend is weak for now .
We have ECB president speech and US Sales data today . Stay cautious and keep an eye on these events .
More will update to our signals subscribers .