Gold trend
Gold ( xauusd ) price trading at 1319$ today . It made low in early morning session at 1308$ but bounced back . It fired as Bank of Japan decided to not to hike or reduced interest rate . As mentioned in our weekly post , this is monetary policy special week . We had Australia’s policy in starting , now Japan’s and we have US Federal decision on interest rate too tonight . So its gonna be crucial and it will decide the fate of upcoming trend in gold and silver .
Today we have a good major hurdle on gold chart at 1325$ . If traders break this major resistance and manage to sustain trade above our hurdle today . Then expect this precious metal to test upto 1333$ – 1341$ today .
A good support on intraday gold chart stands at 1307$ . If traders break this major base level and manage to sustain trade beneath our base level today . Then expect this precious metal to melt upto 1300$ – 1291$ today .
Gold trend conclusion : Xauusd trend is flat to positive for now .
Silver trend
Silver ( xagusd ) firing with full power after BOJ decided to keep interest rate at -0.1% . It has a good major resistance at 19.55$ today . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test more upper levels upto 19.80$ – 20$ today .
A good major support on chart stands at 19.20$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect silver prices to test upto 19$ – 18.80$ today .
Silver trend conclusion : Xagusd trend is flat to positive for now .
More will update to our trading signal subscribers .