XAUUSD Daily Forecast Aug 29 2014

Despite the bullish correction we have seen  this week , outlook in XAUUSD remains on the downside as long as resistance 1298 holds on a daily closing basis , next support comes at the 1280 levels , below this level will look for the 1272 where a cut will open 1266 /1258 levels before the next rise …

On the upside , resistance comes at the 1298 levels , break of the 1298 on a daily basis will recapture the 1305/1322 levels before the next possible fall…….

In all , as long as resistance 1298 holds on a daily closing basis , outlook in XAUUSD remains on the downside towards the 1272 levels and possible lower towards the 1266/12558 levels, above the 1298 levels will turn outlook neutral towards the 1305/1322 levels before the next fall…..

 

XAUUSD Daily Forecast Aug 29 2014

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