Gold
Gold price fired last night after a dovish statement by FOMC president. Fed said we should be patient for more interest rate hike. This gives a push to gold prices as dollar index tanked.
Dovish Fed is expected as in their statement FOMC president mentioned about US economic growth which is not expected as per their projection.
Gold price fired from 1309 to 1320 and currently cruising around 1320 only. Good support in this precious metal chart stands at 1308$. Once market break and sustain below 1308$. Then expect good pressure till 1300$- 1290$.
Resistance in gold chart stands at 1328$. Once market break and sustain above 1328$. Then expect good rise in this precious metal price till 1335$- 1342$.
Conclusion: Comex Gold forecast is positive for now. But I would advice a caution here for a while.
Silver
Silver price also pushed towards 16$ and sustaining above 16$ for now. Good support in this precious metal stands at 15.80$. If market break and sustain below 15.80$. Then expect good pressure till 15.60$- 15.40$.
Resistance in silver chart stands at 16.25$. If market break and sustain above 16.25$. Then expect xagusd till 16.48$- 16.70$.
Conclusion: Silver forecast is positive for now. But avoid major buying on these levels.
Crude oil
Nymex Crude oil price fired last night and tested near 55$. Currently roaming at 54.60$. Good support in this major commodity stands at 53.80$. Once market break and sustain below 53.80$. Then expect good pressure till 53.20$- 52.50$.
Resistance in crude oil chart stands at 55.20$. If market break and sustain above 55.20$. Then expect good rise till 55.80$- 56.40$.
Conclusion: Nymex Crude oil forecast is positive for now.
Euro
Euro fired after dovish fed which resulted in weak dollar. Currently eurusd trading at 1.1500. Good support in this forex pair stands at 1.1450. Once market break and sustain below 1.1450. Then expect good pressure till 1.1410- 1.1370.
Resistance in euro chart stands at 1.1550. Once market break and sustain above 1.1550. Then expect good rise till 1.1590- 1.1630.
Conclusion: Eurusd trend is positive for now.
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