Gold analysis
Comex gold price trading at 1324$ , it tested 1336$ and then crashed after FOMC minutes . Today we have ECB meeting minutes . 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 more pressure in gold price upto 1308$ – 1300$ .
A good resistance on xauusd chart stands at 1338$ , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good recovery in gold price upto 1345$ – 1353$ .
Gold analysis conclusion : Comex gold trend is weak for now .
Silver support at 16.30$ , resistance 16.75$ . Trend is weak .
Forex analysis
Euro trading at 1.2275 , it crashed last night after FOMC minutes . A good base on this forex pair stands at 1.2250 . If traders take this base out and manage to sustain trade below our support . Then expect more pressure in euro upto 1.2210 – 1.2170 .
A good hurdle on this forex pair stands at 1.2320 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect some recovery in euro upto 1.2360 – 1.2400 .
Euro trend is weak for now .
Usdjpy trading at 107.42 , last night it tested 107.90 and then crashed to test till 107.12 . A good base on this fx pair stands at 106.90 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in usdjpy to test upto 106.50 – 106.20 .
A good hurdle on this fx pair stands at 107.92 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in usdjpy upto 108.30 – 108.70 today .
Dollar index is very volatile for now , avoid any major trades till it settles down .
Usdjpy trend is flat to weak for now .
More will update to our signals subscribers .