XAUUSD Daily Forecast Mar 04 2014

The XAUUSD maintained a bullish momentum yesterday , bottomed at the 1330 levels and topped at the 1354 levels . This development leaves the pair targeting the  1367 levels , a halt is likely , but break of 1367 will open 1384 levels , further out will the 1400 levels.

On the downside , a bearish correction towards the 1337 levels is likely before attacking the 1367 levels , losing the 1337 levels will open main support at the 1330 levels , note that downside below the 1337 levels , should be contained well by the 1330 levels. If 1330 fails on a daily basis , expect the pair to weaken further to the 1319/1307 levels .

In all , as long as support 1330 holds on a daily closing basis , the XAUSUD will remain based to the upside towards the 1367 levels ahead of the 1384 levels , losing the 1330 levels would reverse risks towards the 1319/1307 levels before the next possible rise.

 

XAUUSD Daily Forecast Mar 04 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS