Gold analysis
Comex gold price trading even lower today at 1328$ after making low near 1325$ . Dollar index ( DXY ) recovering very smartly since 2 days and xauusd getting hammered due to that . A good support on comex xauusd chart stands at 1324$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold prices upto 1317$ – 1308$ .
A good resistance on comex xauusd chart stands at 1338$ , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in gold price upto 1344$ – 1352$ .
Gold analysis conclusion : Comex gold trend is weak for now .
Forex analysis
Euro trading at 1.2328 , its trading flat to weaker since yesterday as dollar basket is making new highs after giving a low near 88 . A good base on this forex chart stands at 1.2280 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2250 – 1.2200 .
A good hurdle on this forex chart stands at 1.2370 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in euro upto 1.2400 – 1.2440 .
Euro trend is weak for now .
Usdjpy making new highs as its tested 107.90 in early morning session and currently cruising at 107.73 . A good base on this major fx pair stands at 107.30 . If traders take this base out and manage to sustain trade below our support . Then expect more pressure in usdjpy upto 107 – 106.60 .
A good hurdle on this fx pair stands at 108 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in usdjpy upto 108.35 – 108.70 .
Usdjpy trend is flat to positive for now .
More will update to our signals subscribers .