As said in last gold forecast , gold crossed resistance and turned positive. It fired from lower levels and currently cruising above 1313$. We have crucial Fed interest rate decision today which will determine this year FOMC‘s course of action.
We will have to see if Fed really hike interest rate in its first meeting of year. Fed may take a pause and might not raise interest rate today as its just first month of the year. However we cant say certain as Fed was pretty unpredictable in 2018 and raised interest rate 4 times.
Currently gold price trading at 1314$. Good support in gold chart stands at 1307$. If market break and sustain below 1307$. Then expect good pressure till 1300$- 1291$.
Resistance in gold chart stands at 1325$. Once market break and sustain above 1325$. Then expect good rise till 1332$- 1339$.
Conclusion: Gold forecast is positive for now. Avoid major selling and buy in dips would be good idea.
Silver price rocked the sellers and fired from its lower levels. Our subscribers enjoyed this as our buy signal initiated at 15.74$ which achieved target today. Currently silver trading at 15.92$. Good support in this precious metal stands at 15.70$. If market break and sustain below 15.70$. Then expect good pressure till 15.50$- 15.30$.
Resistance in silver chart stands at 16.15$. If market break and sustain above 16.15$. Then expect good rise till 16.40$- 16.62$.
Conclusion: Silver forecast is positive for now.
Nymex Crude oil price trading higher today at 53.20$. Yesterday it fired pretty hard and closed above 53$. Good support in this commodity stands at 52.50$. Then expect good pressure till 51.80$- 51.10$.
Resistance in crude oil chart stands at 53.80$. If market break and sustain above 53.80$. Then expect good rise till 54.30$- 55$.
Conclusion: Nymex Crude oil trend is positive for now.
Eurusd trading higher as dollar index is weakening since yesterday. Currently euro trading at 1.1432. Good support in this forex pair stands at 1.1390. If market break and sustain below 1.1390. Then expect good pressure till 1.1350- 1.1320.
Resistance in euro chart stands at 1.1460. If market break and sustain above 1.1460. Then expect good rise till 1.1490- 1.1520.
Conclusion: Euro trend is positive for now.