XAUUSD Daily Forecast Apr 23 2014

The XAUUSD  maintained a bearish momentum  the past few days , printed resistance at the 1301 levels  .This development leaves the pair targeting the 1268  levels where a breach will turn focus on the 1250  levels , further downside will aim the 1232 levels.

On the upside , resistance comes at the 1301 levels , break of 1301 levels on a daily basis would recapture the 1331 levels , If this resistance is taken out , expect the pair to strengthen further towards the 1360 levels , further upside will aim the 1392  levels..

In all , as long as resistance 1301  holds on a daily closing basis  , outlook in XAUUSD  remains on the downside towards the 1268/1250  levels, break of 1301  will reverse risks towards the 1331  levels….

XAUUSD Daily Forecast Apr 23 2014