XAUUSD Daily Forecast Jun 20 2014

The XAUUSD  continued it bullish momentum yesterday , printed support at the 1275  levels and topped at the 1321 levels  .This development leaves the pair targeting the 1343  levels  , a halt is likely , but a break would open 1371 next , further upside will aim the 1402  levels.

On the downside , support comes at the (1303 , 1293 , 1284 ) levels ahead of 1275  ( main) , stability above support levels will keep the bullish momentum intact , however ; losing the 1275  levels on a daily closing basis will reverse risks towards the 1257  levels where a breach will open the 1240 levels……

In all , as long as support 1275 holds on a daily closing basis , outlook in XAUUSD remains on the upside towards the 1343 levels ahead of the 1371  levels .Below 1275  will reverse risks towards the 1257 levels and possible lower towards the 1240 levels…

 

XAUUSD Daily Forecast Jun 20 2016

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