Gold trend
Today we have OPEC meeting which wont directly influence gold price but crude oil may influence dollar and it may result influencing xauusd. Last Friday we had a bloodbath in xauusd prices when it crashed from 1300$ zone to test below 1280$.
Gold price tested 1261.80$ yesterday and bounced back till 1270$. In our yesterday’s gold prediction we mentioned our support at 1262$. Gold respected that and trying to recover since then. Currently prices are trying to stabilize at 1268$. We should turn positive if market does not break our yesterday’s support.
A good resistance on gold chart stands at 1276$, If traders break and sustain above our resistance. Then expect good recovery in xauusd price upto 1284$- 1291$.
A good support stands at 1262$, If trader tank this base and manage to sustain below 1262$. Then expect fresh selling in price upto 1255$- 1250$.
Gold trend today is flat to positive for now. We wont sell as suggested in our last gold forecast too. We will look to buy in dips. If you are holding any buy position then you should make stop loss below our support. We have not given any signal in xauusd this week so far.
Silver trend
Silver price trading in positive territory since yesterday. Currently cruising above 16.30$. A good resistance on silver chart stands at 16.55$. If traders break and sustain above our resistance. Then expect good rise in xagusd price upto 16.82$- 17.02$.
A good support on silver chart stands at 16.20$, If traders break and sustain below our support. Then expect more pressure in xagusd upto 16$- 15.80$.
Silver trend today is positive for now. We would recommend buy in dips.
Euro trend
Euro trading more than 100 pips up from its yesterday’s low. Currently cruising at 1.1620. A good support on euro chart stands at 1.1580. If traders break and sustain below this level. Then only expect some pressure in euro upto 1.1540- 1.1500 today.
A good resistance on euro chart stands at 1.1650, If traders break and sustain above our resistance. Then expect good rise upto 1.1690- 1.1730.
Euro trend has turned positive for now. Avoid any selling in this major forex pair.
More will update to our signals subscribers.