Forex, Gold price forecast March 29, 2018

Gold price forecast

Comex gold price struggling at 1325$ after a fresh selling took place yesterday as dollar index recovered completely . US GDP numbers surprised yesterday as it came better than expected . US GDP grew 2.9% vs 2.5% precious quarter . Forecast was 2.7% and it exceeds forecast which gave another push to dollar index . US pending home sales data came better than expected too .

A good support on xauusd chart stands at 1317$ , 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 on gold chart stands at 1332$ , if traders take this barrier out and manage to sustain trade above our resistance . Then expect buyer to return in gold and price may shoot upto 1340$ – 1348$ .

Gold price forecast conclusion : Gold price trend is weak for now , but no fresh selling trade recommendation either .

Forex forecast

Eur/Usd trading at 1.2324 pretty weak since yesterday . A good base on this forex pair stands at 1.2280 , If traders break this base and manage to sustain trade below our support . Then expect good pressure in euro upto 1.2240 – 1.2200 today .

A good hurdle on this forex pair stands at 1.2370 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in euro upto 1.2400 – 1.2440 .

Euro trend is flat to weak for now .

Usd/Jpy trading at 106.62 , This fx pair recovered smartly after dollar fired yesterday . A good base on this forex pair stands at 106.20 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in usd/jpy upto 105.80 – 105.30 .

A good hurdle on this major fx pair stands at 106.92 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in usd/jpy upto 107.20 – 107.60 .

Usd/Jpy trend is flat to weak for now .

More will update to our signals subscribers .