Gold price forecast
Comex gold price trading at 1327$ , it crashed more than 20$ from its yesterday’s peak . ADP Non farm employment came better than expected and it gave a good push to Dow Jones which is now trading above 1000 points from yesterday’s lowest point . A good support on xau/usd chart stands at 1318$ , If traders take this base out and manage to sustain trade below our support . Then expect gold price to test upto 1309$ – 1303$ today .
A good hurdle on xau/usd chart stands at 1334$ , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect gold price to test upto 1341$ – 1348$ . Above 1352$ expect more blast upto 1362$ .
Gold price forecast conclusion : Comex gold trend is weak for now .
Forex forecast
Eur/Usd trading at lower at 1.2265 , Euro crashed from 1.2325 yesterday and now trading nearly 70 pips lower from its peak . A good base on this major forex pair stands at 1.2220 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in eur/usd upto 1.2190 – 1.2150 .
A good hurdle on this major forex pair stands at 1.2305 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good recovery in euro upto 1.2360 – 1.2400 .
Euro trend is flat to weak for now .
Usd/Jpy fired yesterday from 106 and now trading higher at 107.05 , A good base on this major forex pair stands at 106.60 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in usd/jpy upto 106.20 – 105.60 today .
A good hurdle on this major forex pair stands at 107.55, If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in usd/jpy upto 108 – 108.50 .
Usd/Jpy trend is positive for now .
More will update to our signals subscribers .