XAUUSD Daily Forecast Jan 05 2015

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Short term outlook in XAUUSD has turned to the upside as long as 1186 support holds on a 4 hour closing basis , resistance comes at the 1200 levels , a halt is likely , but a break would open 1210 next , further upside will target the 1223 levels.

On the downside , support comes at the 1186 levels , losing this level on a 4 hour closing basis will turn outlook  towards the 1178 levels , a cut would open 1167 next , further down will target the 1160 levels .

In all , as long as 1186 support holds on a 4 hour closing basis , short term outlook in XAUUSD remains on the upside towards the 1200 levels ahead of the 1210 levels . below 1186 will resume the bearish trend and open 1178 levels ahead of the 1167 levels.

XAUUSD Daily Forecast Jan 05 2015

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