XAUUSD Daily Forecast Dec 09 2014

gold
gold

Outlook in XAUUSD remains on the upside as long as support 1185 holds on a daily closing basis , resistance comes at the 1221/1227 levels , a halt is likely but a breach would open 1245 next , further upside will aim the 1256 levels.

On the downside , support comes at the 1185 levels , stability above this level will keep the bullish momentum intact , however , losing this level on a daily closing basis will turn outlook towards the 1178 levels before the next rise , If 1178 fails on a daily closing basis , expect the pair weaken further towards the 1146/1131 levels .

In all , as long as support 1185 holds on a daily closing basis , outlook in XAUUSD remains on the upside towards the 1221/1227 levels ahead of the 1245/1256 levels , below 1185 will bring pullback towards the 1178 levels before the next rise.

In the medium term forecast , as long as support 1131 holds on a weekly closing basis , the pair remains in recovery mode , but recovery above the 1131 levels should be contained well by the 1257/1345 levels.

 

XAUUSD Daily Forecast Dec 09 2014

 

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