Gold forecast
Comex gold price crashed further yesterday and even broke 1340$, Currently xau/usd trading below 1340$ as its cruising near 1338$ after a big drop till 1334$. Gold crashed as dollar index gained good momentum and Jobless claims came better than expectations from US, signaling good economy.
A good support on xau/usd chart stands at 1331$, If traders tank this base and manage to sustain trade below our support. Then expect more pressure in gold prices upto 1325$ – 1317$ today.
A good resistance on xau/usd chart stands at 1348$, If traders break this major hurdle and manage to sustain trade above our resistance. Then expect good recovery again in gold upto 1356$ – 1363$.
Gold price forecast conclusion : Comex gold trend is flat to weak for now.
Silver support at 16.30$, Resistance 16.62$, Trend flat to weak.
Forex forecast
Eur/Usd trading lower at 1.2325 today. Dollar gained resulted in euro’s loss as it crashed from 1.2375 and tested below 1.2300. A good base on this major forex pair stands at 1.2270, If traders break this support 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 1.2360, If traders break this major hurdle and manage to sustain trade above our resistance. Then expect good recovery in euro upto 1.2390- 1.2440.
Euro trend is flat to weak for now.
Usd/Jpy trading pretty higher as dollar gaining momentum again. Currently usd/jpy trading at 107.57. A good base on this major forex pair stands at 107.20, If traders breaks this and manage to sustain trade below our support. Then expect more pressure in usd/jpy upto 106.80- 106.30.
A good hurdle on this major forex pair stands at 107.92, If traders breaks this major hurdle and manage to sustain trade above our resistance. Then expect more firepower in usd/jpy upto 108.30- 108.80.
Usd/Jpy trend is positive for now.
More will update to our signals subscribers.