XAUUSD Daily Forecast Mar 25 2014

The XAUUSD continued its bearish momentum yesterday , topped at the 1334.95 levels and bottomed at the 1307.95 levels .This development leaves the pair targeting the 1285 levels , a halt is likely , but losing the 1285 levels on a daily basis will open 1265 next , further downside will aim the 1240 levels.

On the upside , a rejection from the 1307.95 levels could test the 1324 levels before the next down below 1307 levels , break of 1324 levels would open main resistance at the 1334.95 levels , a halt is very likely , but If this resistance is taken out on a daily basis , a short term bottom will be confirmed , and outlook would turn from bearish to neutral for retesting 1360 levels , a clear break will suggest that fall from 1392 is over , If seen , sooner or later the pair will recapture the 1392 levels.

In all , as long as resistance 1334.95 holds on a daily closing basis , the XAUUSD will remain based to the downside towards 1300/1285 levels , break of 1334.95 will turn outlook neutral for retesting 1360 before the next possible fall.


XAUUSD Daily Forecast Mar 25 2014