Gold forecast
Gold ( Xauusd ) price fired after BOE decided to cut interest rate from 0.50% to 0.25% . It gave a good recovery and tested 1365$ yesterday . Currently prices are trading at 1364$ . A good support on intraday gold chart stands at 1357$ . If traders break this major support and manage to sustain trade beneath our support today . Then expect this precious metal to test upto 1350$ – 1342$ today .
A good resistance on intraday gold chart stands at 1372$ . If traders break this major hurdle and manage to sustain trade above our hurdle today . Then expect this precious metal to test upto 1380$ – 1388$ today .
Gold forecast conclusion : Xauusd trend is positive for now .
Silver forecast
Silver ( xagusd ) price recovered from 20.20$ till 20.45$ last night . A good base level on intraday silver chart stands at 20.15$ . If traders break this major base level and manage to sustain trade beneath our level today . Then expect this major commodity to test upto 19.90$ – 19.70$ today .
A good resistance on silver chart stands at 20.65$ . If traders break this major resistance and manage to sustain trade above our resistance today . Then expect this major commodity to test upto 20.80$ – 21$ today .
Silver forecast conclusion : Xagusd trend is positive for now .
Today we have US unemployment rate , non farm employment change and avg hourly earnings from US . These are very important data so stay cautious .
More will update to our trading signal subscribers .