XAUUSD Daily Forecast Feb 16 2015

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Outlook in XAUUSD has turned neutral at the moment , the pair is in a recovery mode above the 1216 levels , but recovery is expected to be limited below the 1255 levels where fall resumption is likely , however ; sustained breakout above the 1255 levels will suggest that fall from 1307 is over , and further upside towards the 1274/1307 levels is likely.

On the downside , sustained breakout below the 1216 levels will restore the downside momentum and open the 1209/1197 levels , further down will target the 1178 levels.

In all , as long as 1216 support holds on a daily closing basis , the XAUUSD remains neutral and further upside below the 1255 levels couldn’t be ruled out , below 1216 levels will restore the downside momentum and open the 1209/1197 levels ahead of the 1178/1167 levels..

 

XAUUSD Daily Forecast Feb 16 2015

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