XAUUSD Daily Forecast Dec 23 2014

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Outlook in XAUUSD remains on the downside as long as 1203 resistance holds on a daily closing basis , support comes at the 1170 levels where a cut will open 1150 levels , a halt is likely but losing this level would open 1128  next , further down will pave the way towards the 1100 levels.

On the upside , resistance comes at the 1182 levels ahead of the 1203 levels (main), break of the 1203 levels on a daily closing basis will turn outlook neutral and open 1213 /1223 levels before the next fall..

In all , as long as 1182/1203 resistance holds on a daily closing basis , outlook in XAUUSD remains on the downside towards the 1150 levels ahead of the 1128 levels , above the 1203 levels will bring rebound towards the 1213/1223 levels before the next fall..

Note that losing the 1170 levels on a daily closing basis , will turn 1170 levels from support to resistance level…

Intraday : Resistance comes at the 1182 levels , a break would open 1196 levels ahead of the 1203 levels (main) before the next fall , below 1182 levels look for 1170/1150 levels , above the 1203 look for possible rebound towards the 1213/1223 levels.

 

XAUUSD Daily Forecast Dec 23 2014

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