Gold price forecast
Comex gold price trading little higher at 1333$ from its yesterday’s morning session, but trading lower from its peak of 1338$. Good thing for buyers that xau/usd is trading above 1330$ and sustaining well above 1330$. Immediate support stands at 1330$ only, If traders tank this base then we may test major support of 1323$ and even more downside upto 1316$ not ruled out.
A good resistance on xau/usd chart stands at 1342$, once we cross this hurdle and manage to sustain trade above our resistance. Then expect more firepower in gold price upto 1350$- 1358$.
Gold forecast conclusion: Comex gold trend is flat to positive for now.
Silver resistance at 16.60$, support 16.30$, trend positive.
Forex forecast
Eur/Usd trading higher at 1.2316 today. Euro got good benefit last night when dollar index tanked, A good base on this major forex pair stands at 1.2270, If traders take this base out and manage to sustain trade below our support. Then expect good pressure in euro upto 1.2230- 1.2200 today.
A good hurdle on this major forex pair stands at 1.2352, If traders break this major hurdle and manage to sustain trade above our resistance. Then expect good firepower in euro upto 1.2399- 1.2430.
Euro trend is positive for now.
Usd/Jpy trading higher today at 107.16, It crashed last night pretty good but recovered in morning due to weak data from Japan. A good base on this major forex pair stands at 106.90, If traders tank this base and manage to sustain trade below our support. Then expect good pressure in usd/jpy upto 106.40-106 today.
A good hurdle on this forex pair stands at 107.40, If traders break this hurdle and manage to sustain trade above our resistance. Then expect good firepower in usd/jpy upto 107.80- 108.20.
Usd/Jpy trend is flat to positive for now.
More will update to our signals subscribers.