Gold price forecast April 17, 2018

Gold forecast

Comex gold price trading flat since yesterday as market is still not sure about Syria’s condition. Currently prices are cruising at 1346$, It tested 1350$ but could not sustain on higher levels as market fail to convert this move into big buying.

A good support on xau/usd chart stands at 1338$, If traders break this major base and manage to sustain trade below our support. Then expect more pressure in gold price upto 1330$ – 1324$.

A good resistance on xau/usd chart at 1352$, If traders break this major hurdle and manage to sustain trade above our resistance. Then expect good firepower in gold price upto 1360$ – 1366$.

Gold price forecast conclusion: Comex gold trend is flat to positive for now.

Clarification on holding, When we says hold above our hold below it does’nt mean 1-2 minutes above this level. We means at least 30-40 minutes above or below this level. So consider that before applying any trade based on our levels.

This forecast is not buy/sell signals. We send buy/sell signals to our paid subscribers. Click here for our trading signals package.

Forex forecast

Euro trading at highest point of the day as dollar index is tanking at trading at lowest point of the day. Currently euro trading cruising at 1.2390, A good base on this major forex pair stands at 1.2340, If traders breaks this major support and manage to sustain trade below our support. Then expect more pressure in euro upto 1.2300- 1.2250 today.

A good hurdle on this major forex pair hurdle stands at 1.2450, If traders breaks this major hurdle and manage to sustain trade above our resistance. Then expect good firepower in euro upto 1.2500- 1.2550.

Euro trend is flat to positive for now.

Usd/Jpy trading at 106.94, It crashed as dollar basket is sinking. A good base on this major forex pair stands at 106.50, If traders breaks this major base and manage to sustain trade below our support. Then expect more pressure in usd/jpy upto 106- 105.40 today.

A good hurdle on this major forex pair stands at 107.35, If traders breaks this major hurdle and manage to sustain trade above our resistance. Then expect more firepower in usd/jpy upto 107.70- 108 today.

Usd/Jpy trend is weak for now.

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