XAUUSD Daily Forecast Feb 21

gold _ usd

The XAUUSD maintained a bullish momentum yesterday, printed support at the 1307 levels. This development leaves the pair targeting the 1332 levels where a breach is very likely, If seen the pair will extend gains to the 1339 levels, a breach will open the 1.347 levels, further out will aim the 1360 levels.

On the downside, main support comes at the 1307 levels, losing this level on a daily closing basis will confirm topping at 1332 levels, If seen, It will decline towards the 1300 levels ahead of the 1290 levels, a cut will open 1277  levels.

In all, as long as support 1307 holds on a daily closing basis, the XAUUSD will remain biased to the upside with risk towards 1332/1360 levels, losing the 1307 levels, will reverse risks towards the 1300/1277 levels.


XAUUSD Daily Forecast Feb 21