XAUUSD Daily Forecast Feb 11 2015

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Outlook in XAUUSD remains neutral with risk to the downside as long as 1255 resistance holds on a daily closing basis , support comes at the 1223 levels , sustained breakout – daily closing – below this level will – completely – terminate the last bullish run and open the 1197 levels  where a cut will open the 1167 levels.

On the upside , a failure to hold below the 1223 levels on a daily closing basis could mean a return to the 1255 levels , a halt is strongly suggested , but sustained breakout – daily closing – above the 1255 levels will restore the upside momentum and reverse risk to the upside towards the 1274 levels , where a break will open the 1307 levels…

In all , as long as 1255 resistance holds on a daily closing basis , outlook in XAUUSD remains on the downside towards the 1223 levels ahead of the 1197 levels , break of the 1255 levels will restore the upside momentum and reverse risk to the upside towards the 1274 levels , where a break will open the 1307 levels…

 

XAUUSD Daily Forecast Feb 11 2015

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