XAUUSD Daily Forecast Mar 03 2015

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gold65FILEminimizer

Outlook in XAUUSD remains neutral at the moment , the pair is in recovery mode as long as trades above the 1199 levels , but recovery above the 1199 levels should be limited by the 1228/1252 levels where fall resumption is likely ….however ; sustained breakout – daily closing – above the 1252 levels will suggest short term bottoming and open the 1274/1307 levels before the next possible fall…

On the downside , sustained breakout – daily closing – below the 1199 levels is needed to restore the downside momentum , If seen  , next support will be the 1167 levels , further down will pave the way towards the 1142/1131 levels..

In all , as long as 1199 support holds on a daily closing basis , the XAUUSD remains in recovery mode , and further upside couldn’t be ruled out ,  but recovery above the 1199 levels should be limited by the 1228/1252 levels , below 1199 levels will restore the downside momentum and open 1167 ahead of the 1142 levels….

 

XAUUSD Daily Forecast Mar 03 2015

 

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