Gold analysis
Comex gold ( xauusd ) price trading at 1320$ , it gave good spark since yesterday but now dollar seems recovering and trading at highest point of the day . Dollar basket sustaining above 91.50 will open more fresh buying in dollar . A good support on gold chart stands at 1314$ , if traders take dip on this key level and manage to sustain trade below our support today . Then expect good pressure in gold prices upto 1308$ – 1300$ .
A good resistance on daily gold chart stands at 1327$ , if traders tank this hurdle and manage to sustain trade above our resistance today , then expect good firepower in xauusd upto 1333$ – 1340$ .
Gold analysis conclusion : Gold trend is flat for now , watch levels closely .
Forex analysis
Eur/Usd trading flat at 1.2070 . A good base on this major forex pair stands at 1.2040 , if traders jump on this base and manage to sustain trade below our support today . Then expect good pressure in euro upto 1.2000 – 1.1950 today .
A good hurdle on this forex chart stands at 1.2110 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in euro upto 1.2150 – 1.2190 .
Eur/Usd trend is flat for now .
Usd/Jpy trading at 113.01 , it recovered smartly since yesterday from 112.55 and still holding on higher levels . A good base on this forex chart stands at 112.70 , if trader break this major base and manage to sustain trade below our support today . Then expect more pressure in usd/jpy upto 112.30 – 112 today .
A good hurdle on this forex chart stands at 113.45 , if traders take this hurdle out and manage to hold above our resistance today . Then expect good firepower upto 113.90 – 114.20 .
Usd/Jpy trend is flat to positive for now .
We have Avg early earnings , Unemployment rate and most important Non farm employment change from US today . Stay cautious .
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