Gold analysis
Comex gold price fired from 1317$ to 1352$ last night after dollar broke down more than 100 pips within hours after US retail sales shrunk worse than forecast . Currently xauusd cruising at 1355$ , a good support on technical chart stands at 1362$ , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect more firepower in gold prices upto 1370$ – 1378$ .
A good support on xauusd chart stands at 1347$ , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in gold price upto 1340$ – 1332$ .
Gold analysis conclusion : Comex gold trend is positive for now , avoid any major sell .
Forex analysis
Euro trading higher after dollar crashed last night . Currently euro cruising at 1.2460 . A good base on this forex pair stands at 1.2420 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in euro upto 1.2370 – 1.2340 .
A good hurdle on this forex pair stands at 1.2520 , if traders take this hurdle out and manage to sustain trade above our resistance , then expect more firepower in euro upto 1.2560 – 1.2600 .
Euro trend is positive for now .
Usdjpy trading at 106.50 , it crashed badly last night after US sales data and made new lows . A good base on this forex pair stands at 106 , if traders take this base out and manage to sustain trade below our support . Then expect more pressure in yen upto 105.70 – 105.40 .
A good hurdle on this forex pair stands at 107.05 , if traders take this hurdle out and manage to sustain trade above our resistance . Then expect good firepower in yen upto 107.60 – 108 .
Usdjpy trend is weak for now .
More will update to our trading signals subscribers .