XAUUSD Daily Forecast Jan 07 2015

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Short term outlook in XAUUSD remains – cautiously – on the upside as long as 1212 support holds on a 4 hour closing basis , resistance comes at the 1223 levels , a halt is likely , but a break would open 1232  next , further upside will target the 1238 levels.

On the downside , support comes at the 1212 levels , losing this level on a 4 hour closing basis will suggested short term topping and open 1198 levels before the next possible rise , If 1198 fails to hold , further decline towards the 1186/1178 levels will be is sight…

In all , as long as 1212 support holds on a 4 hour closing basis , short term outlook in XAUUSD remains on the upside towards the 1223 levels ahead of the 1232 levels . below 1212 is likely to resume the bearish trend and open 1198 levels ahead of 1186/1178 levels …

 

XAUUSD Daily Forecast Jan 07 2015

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