Gold analysis
Comex gold price fired yesterday after testing lows near 1332$ and eaten our stoploss at 1338.70 . Currently xauusd trading at 1341$ as dollar index slipped below 90 and sustaining below 90 . A good support on xauusd chart stands at 1331$ , if traders take this base out and manage to sustain trade below our support today . Then expect some pressure in gold price upto 1324$ – 1317$ .
A good resistance in xauusd chart stands at 1351$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in gold price upto 1358$ – 1366$ .
Gold analysis conclusion : Comex gold trend is positive for now .
Silver support stands at 16.88$ , resistance at 17.15$ . Trend is flat to positive for now .
Forex analysis
Eurusd trading higher at 1.2322 , a good base level on this forex pair stands at 1.2280 , if traders tank this base and manage to sustain trade below our support today . Then expect good pressure in eurusd upto 1.2240 – 1.2200 today .
A good hurdle on this forex pair stands at 1.2360 , if traders break this major hurdle and manage to sustain trade above our resistance today . Then expect good firepower in eurusd upto 1.2400 – 1.2435 .
Eurusd trend is flat to positive for now .
Usdjpy broke 110 and now trading at 109.92 , its trading weaker and sustaining on lower levels due to weakness in dollar basket . A good base level on this major forex pair stands at 109.45 , if traders tank this base and manage to sustain trade below our support today . Then expect more pressure in usdjpy upto 109 – 108.60 .
A good hurdle on this forex pair stands at 110.20 , if traders manage to break this major hurdle and sustain trade above our resistance today . Then expect mild recovery in usdjpy upto 110.50 – 110.80 .
Usdjpy trend is weak for now .
More will update to our signals subscribers .