Gold price forecast
Comex gold price trading at 1330$ , Xau/Usd fired with full guns after Fed hiked interest rate by 25bps . It tested 1335$ and now cooling off at 1330$ . A good support on Xauusd chart stands at 1325$ , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in gold price upto 1318$ – 1308$ again .
A good resistance on Xau/Usd chart stands at 1342$, once this hurdle is out and price manage to sustain above this level . Then expect more firepower in gold price upto 1350$ – 1356$ today .
Gold price forecast conclusion : Comex gold trend is positive for now .
Silver support at 16.30$ , resistance at 16.75$ . Trend positive .
Forex analysis
Eur/Usd trading at 1.2353 trading approx 100 pips higher since last night . A good base on this major forex pair stands at 1.2320 , 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 .
A good hurdle on this major forex pair stands at 1.2390 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in euro upto 1.2430 – 1.2470 .
Euro trend is positive for now .
Usd/Jpy trading at 105.88 , It made low of 105.57 last night and now trading up 30 pips from its low . A good base on this major fx pair stands at 105.50 , If traders take this base out and manage to sustain trade below our support . Then expect good pressure in yen upto 105.20 – 104.80 today .
A good hurdle on this major fx pair stands at 106.20 , If traders take this hurdle out and manage to sustain trade above our resistance . Then expect good recovery in usd/jpy upto 106.55 – 106.80 .
Usd/Jpy trend is flat to weak for now .
Read our Medium term gold trend update here
More will update to our signals subscribers.