XAUUSD Daily Forecast Jun 05 2014

Outlook in XAUUSD remains on the downside as long as resistance 1264 holds on a daily closing basis ,  support comes at the 1238 levels , a break would open 1231 next , further downside will aim the 1227 levels.

On the upside , break of 1264 levels on a daily closing basis will turn outlook neutral for retesting the 1285 levels ahead of the 1293 levels . Break of 1293 on a daily basis will reverse risks tot he upside towards the 1307/1309 levels .

In all , as long as resistance 1264 holds on a daily closing basis  , outlook in XAUUSD remains on the downside towards the 1238 levels ahead of the 1231 levels , break of the 1264 levels will reverse risks towards the 1285/13993 levels before the next fall…

 

 

XAUUSD Daily Forecast Jun 05 2014

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