XAUUSD Daily Forecast Jan 30 2015

gold65FILEminimizer
gold65FILEminimizer

Outlook in XAUUSD has turned to the downside at the moment , the pair has lost its upside momentum after losing the key support 1266 yesterday . The pair is in a pullback mode and further decline towards the 1223 levels is likely the upcoming days..

On the downside , resistance comes at the 1272 levels ahead of the 1278/1285 levels , stability below resistance levels will keep the pair under pressure , support comes at the 1250 levels , a halt is likely , but losing the 1250 levels on a 4 hour closing basis will bring sell-off towards the 1222 levels before the next possible rise , If 1222 fails to hold , further down towards the 1197 levels will be in sight…

On the upside , resistance comes at the 1272 levels , break of the 1272 levels will open 1278/1285 levels before the next fall , however ; to restore the upside momentum , sustained breakout above the 1285 levels is needed , If seen , focus will will be on the 1307 levels and possible higher towards the 1325 levels..

In all , as long as 1272 resistance holds on a 4 hour closing basis , short term outlook in XAUUSD remains on the downside towards the 1250 levels ahead of the 1222 levels , above 1272 will turn outlook towards the 1278/1285 levels before the next fall…

 

XAUUSD Daily Forecast Jan 30 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS