Gold forecast
Comex Gold ( xau/usd ) price trading at 1313$ , Xau/Usd made low of 1307$ last night and now trying to recover . Today we have FOMC decision on interest rate so it will be main key event which will decide the fate of gold silver price onwards . A good support on xauusd chart stands at 1307$ , this level is very crucial as its been tested 2 times and market recovered from there . Once 1307$ is broken and manage to sustain trade below our support . Then expect good pressure in gold price upto 1300$ – 1292$ today .
A good resistance on xauusd chart stands at 1322$ , if traders break this barrier and manage to sustain trade above our resistance . Then expect good recovery in gold price upto 1330$ – 1338$ today .
Gold forecast conclusion : Comex gold trend is flat to weak for now but watch key levels to trade .
Forex forecast
Eur/Usd trading at 1.2265 , it made low of 1.2238 and now trading 30 pips higher . A good base on this major forex pair stands at 1.2230 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in euro upto 1.2200 – 1.2170 .
A good hurdle on this forex pair stands at 1.2305 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in euro upto 1.2350 – 1.2399 .
Euro trend is positive for now .
Usd/Jpy trading at flat at 106.41 since last night . A good base on this major fx pair stands at 106 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in usd/jpy till 105.50 . 105.50 is major support in this fx pair once its taken by bears and sustain below then expect major panic upto 104.20 – 103 .
A good hurdle on this fx pair stands at 106.80 , if traders break this hurdle and manage to sustain trade above our resistance . Then expect good recovery in yen upto 107.20 – 107.60 .
Usdjpy trend is flat to weak for now .
More will update to our signals subscribers .