XAUUSD Daily Forecast Jan 06 2015

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Short term outlook in XAUUSD remains on the upside as long as 1198 support holds on a 4 hour closing basis , resistance comes at the 1210 levels , a halt is likely , but a break would open 1217 next , further upside will target the 1223 levels.

On the downside , support comes at the 1198 levels , losing this level on a 4 hour closing basis will turn outlook  towards the 1186 levels , a cut would open 1178 next , further down will target the 1167/1160 levels .

In all , as long as 1198 support holds on a 4 hour closing basis , short term outlook in XAUUSD remains on the upside towards the 1210 levels ahead of the 1217 levels . below 1198 is likely to resume the bearish trend and open 1186/1178 levels ahead of the 1167 levels.

 

XAUUSD Daily Forecast Jan 06 2015

 

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