Gold analysis
Comex gold price trading at 1332$ , its trading a little higher today . A good resistance on xauusd chart stands at 1340$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in gold price upto 1347$ – 1354$ .
A good support on xauusd chart stands at 1324$ , if traders tank this base and manage to sustain trade below our support today . Then expect good pressure in gold price upto 1317$ – 1308$ today .
Gold analysis conclusion : Comex gold price trend is flat to weak for now , avoid buy on these levels .
Forex analysis
Eurusd trading at 1.2229 , a good base level on this forex pair stands at 1.2180 , if traders tank this base and manage to sustain trade below our support today . Then expect eurusd to test upto 1.2140 – 1.2100 today .
A good resistance on this forex pair stands at 1.2260 , if traders break this major hurdle and manage to sustain trade above our resistance today . Then expect good firepower in eurusd upto 1.2300 – 1.2342 .
Eurusd trend is flat to weak for now , we have ECB monetary policy this week so we would advice caution in this fx pair .
Usdjpy trading at 110.80 slightly lower from its last week’s closing . A good base level on this major forex pair stands at 110.50 , if traders tank this base and manage to sustain trade below our support today . Then expect good pressure in usdjpy upto 110.20 – 109.90 .
A good hurdle on this forex pair stands at 111.15 , if traders tank this hurdle and manage to sustain trade above our resistance today . Then expect good firepower upto 111.50 – 111.80 today .
Usdjpy trend is flat to positive for now .
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