XAUUSD Daily Forecast Mar 06 2015

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Outlook in XAUUSD remains neutral at the moment , the pair is in recovery mode as long as trades above the 1199 levels on a daily closing basis  , 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 ,sustained breakout  below the 1199 levels will restore the downside momentum and open 1167 ahead of the 1142 levels….

 

XAUUSD Daily Forecast Mar 06 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS

1 COMMENT

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