Gold forecast
Comex gold price opened lower today and currently trading at 1309$ . Dollar index is rising and market is tanking pretty good . A good support on xauusd chart stands at 1298$ , if traders take this base and manage to sustain trade below our support . Then expect good pressure in gold price upto 1291$ – 1284$ .
A good resistance on xauusd chart stands at 1321$ , if traders break this barrier and manage to sustain trade above our resistance . Then expect good recovery in gold price upto 1328$ – 1336$ .
Gold forecast conclusion : Comex gold trend is weak for now , avoid major buy for now .
Silver support at 15.98$ , resistance at 16.55$ . Trend is weak .
Forex forecast
Eurusd trading at 1.2260 slightly lower than its friday’s closing . A good base on this major forex pair stands at 1.2220 , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in euro upto 1.2170 – 1.2140 .
A good hurdle on this major forex pair stands at 1.2310 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good recovery in eurusd upto 1.2350 – 1.2390 today .
Euro trend is flat to weak for now .
Usjdpy trading at 105.76 , Yen trading pretty low today considering its friday closing . A good base on this fx pair stands at 105.50 , if traders tank this base out and manage to sustain trade below our support . Then expect good pressure in usdjpy upto 105.20 – 104.80 .
A good hurdle on this fx pair stands at 106.10 , if traders break this hurdle and manage to sustain trade above our resistance . Then expect good firepower upto 106.50 – 106.99 .
Usdjpy trend is flat to weak for now .
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