Gold
Gold prices are under pressure since Monday as Dow Jones Index is rising on good data. Good jobs data ensured that US economy is in very good shape. Unexpected burst in job numbers proved FOMC absolutely correct in their projection.
Market was thinking Fed is being over confidence in US economy while raising interest rate. Dow Jones gained more than 1000 points from its lowest point and going strong every day.
Currently gold price trading at 1281.50$. Good support in this precious metal stands at 1277$. Once traders break and sustain below 1277$. Then expect good pressure in xauusd price till 1270$- 1262$.
Resistance in gold chart stands at 1292$. Once traders break and sustain above 1292$. Then expect good rise till 1299$- 1307$.
Conclusion: Comex Gold price forecast is weak for now. Avoid major buying.
Silver
Spot Silver price is in pressure since yesterday. It broke major base of 15.70$ and now hovering around 15.50$. Good support in this precious metal stands at 15.45$. Once market break and sustain below 15.45$. Then expect good pressure till 15.30$- 15.10$.
Resistance in silver chart stands at 15.75$. If traders break and sustain above 15.75$. Then expect good rise till 15.99$- 16.20$.
Conclusion: Comex Silver forecast is flat to weak for now.
Crude oil
Nymex crude oil price finally crossed 50$ and sustaining well above 50$ today. Good resistance in crude oil chart stands at 51.20$. If market break and sustain above 51.20$. Then expect good rise till 52.40$- 53.60$.
Support in crude oil price stands at 49.70$. If oil price break this base and manage to sustain below 49.70$. Then expect good pressure till 48.60$- 47.50$.
Conclusion: Crude oil price forecast is positive for now.
Euro
Euro trading flat to positive as dollar index is in extremely volatile range since yesterday. Currently eurusd trading at 1.1460. Good support in this forex pair stands at 1.1430. Once market break and sustain below 1.1430. Then expect eurusd to test till 1.1400- 1.1370.
Resistance in eurusd chart stands at 1.1505. If market break and sustain above 1.1505. Then expect good rise till 1.1540- 1.1580.
Conclusion: Euro is in flat to weak for now.
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