Gold price forecast
Comex gold price trading at 1331.50$, slightly lower from its last week’s closing. It made high near 1336$ in early session but it seems to be cooling off. A good support on xau/usd chart stands at 1324$, If traders break this major base and manage to sustain trade below our support. Then expect more pressure in gold prices upto 1317$- 1308$ today.
A good resistance on xau/usd chart stands at 1342$, If traders take this hurdle out and manage to sustain trade above our resistance, then expect good recovery in gold price upto 1351$-1360$ today.
Gold price forecast conclusion: Comex gold trend is flat to positive for now, but on dips seems a good idea for now.
Silver support at 16.25$, resistance 16.55$, trend flat to positive.
Forex forecast
Euro trading at 1.2270 almost flat since morning. A good base on this major forex pair stands at 1.2230, If traders take this base out and manage to sustain trade below our support. Then expect good pressure in euro upto 1.2280- 1.2240 today.
A good hurdle on this major forex pair stands at 1.2310, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good recovery in euro upto 1.2348- 1.2380 today.
Euro trend is flat to positive for now.
Usd/Jpy trading higher at 107.11, This forex pair trading pretty positive since open today. A good base on this major forex pair stands at 106.70, If traders tank this base and manage to sustain trade below our support. Then expect more pressure in usd/jpy upto 106.40- 106 today.
A good hurdle on this major forex pair stands at 107.52, If traders break this barrier and manage to sustain trade above our resistance. Then expect good firepower in usd/jpy upto 107.92, 108.32 today.
Usd/Jpy trend is positive for now.
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