Gold forecast
Comex gold price trading at 1318$ , xauusd trading in small range since last 3 days . A good support on xauusd chart stands at 1308$ , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in gold price upto 1300$ – 1291$ .
A good resistance on xauusd chart stands at 1326$ , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in gold price upto 1334$ – 1342$ today .
Gold forecast conclusion : Comex gold trend is flat to weak for now . Watch out key levels .
Silver support at 16.30$ , resistance 16.55$ . Trend flat to weak .
Forex forecast
Eurusd trading higher at 1.2320 , A good base on this major forex pair stands at 1.2270 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in euro upto 1.2220 – 1.2170 today .
A good hurdle on this forex pair stands at 1.2350 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in eurusd upto 1.2390 – 1.2430 .
Eurusd forecast conclusion : Euro trend is flat to positive for now .
Usdjpy trading at 105.90 , Yen trading 40 pips lower since its last friday’s high of 106.30 . A good base on this major fx pair stands at 105.50 . If traders take this base out and manage to sustain trade below our support . Then expect good pressure in usdjpy upto 105.20 – 104.80 today .
A good hurdle on this major fx pair stands at 106.30 , if traders take this hurdle out and manage to sustain trade above our resistance then expect good recovery in usdjpy upto 106.70 – 107 .
Usdjpy forecast conclusion : Usdjpy trend is weak , avoid any major buy for now .
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