XAUUSD Forecast Feb 04 2014

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Recommendations: LONG positions above 1250 with 1257 & 1265 as next targets.

Alternative scenario: The downside breakout of 1250 will call for a slide to 1245/1240.

Description: Intraday outlook in XAUUSD is on the upside as long as support 1250 holds on an hourly closing basis, break of 1265 on hourly basis is needed to resume rise from 1238 towards 1269 /1279 levels. on the downside, losing the key support 1250 would delay the bullish move for retesting 1245/1238 levels before the next possible rise.

Support & Resistance :1232 ,1238 ,1245 , 1250 (Pivot) ,1257 ,1265 , 1279

XAUUSD Forecast Feb 03-_008

MARKET DATA

UPCOMING ECONOMIC EVENTS