XAUUSD Daily Forecast Mar 07 2014

The XAUUSD continued its  bullish momentum yesterday , bottomed at the 1331 levels and topped at the 1353 levels . This development leaves the pair targeting the  1366 levels , a halt is likely , but break of 1366 will open 1382 levels , further out will the 1400 levels.

On the downside , minor support comes at at the 1344/1338 levels , losing the 1338 levels will open main support at the 1331 levels , note that downside below the 1338 levels , should be contained well by the 1330/1331 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 1366 levels ahead of the 1382 levels , losing the 1330 levels would reverse risks towards the 1319/1307 levels before the next possible rise.

 
XAUUSD Daily Forecast Mar 07 2014

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UPCOMING ECONOMIC EVENTS