Gold analysis
Comex gold price trading at 1347$ , its trading almost flat from its friday’s closing . We have US bank holiday today so expect a little low movement in evening’s session . A good support on xauusd chart stands at 1340$ , if traders take this base out and manage to sustain trade below our support . Then expect good pressure in gold price supto 1332$ – 1325$ .
A good resistance on xauusd chart stands at 1355$ , if traders break this hurdle and manage to sustain trade above our resistance . Then expect more firepower in gold price upto 1362$ – 1370$ .
Gold analysis conclusion : Comex gold trend is flat to weak for now .
Forex analysis
Euro trading at 1.2415 , euro trying to recover from last minute crash last friday . A good base on this major forex pair stands at 1.2370 , if traders tank this base and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2340 – 1.2300 .
A good hurdle on this forex pair stands at 1.2450 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect more recovery in euro upto 1.2490 – 1.2520 .
Euro trend is flat to weak for now .
Usdjpy trading higher today at 106.52 , this fx pair recovered smartly after lows near 105.50 . A good base on this major forex pair stands at 106 . If traders tank this base and manage to sustain trade below our support . Then expect more pressure in yen upto 105.50 – 105.05 .
A good hurdle on this fx pair stands at 107 , if traders tank this hurdle and manage to sustain trade above our resistance , Then expect more firepower in yen upto 107.40 – 107.80 .
Usdjpy trend is flat to positive for now .
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