XAUUSD Daily Forecast Nov 10 2014

Outlook in XAUUSD has turned neutral with risk to the downside , resistance comes at the 1178 levels, a failure to hold above the 1178  levels on a daily closing basis could mean a return to the 1150/1131 levels where a cut will call for a fall towards the 1100 levels , further losses will aim the 1065  levels ahead of the 1020 levels.

On the upside , resistance comes at the 1178 levels , break of the 1178 levels on a daily closing basis , will put the pair in recovery mode , but recovery above the 1178  levels should be limited by the 1225/1255 levels where fall resumption is likely .

In all , as long as resistance 1178  holds on a daily closing basis , outlook in XAUUSD remains on the downside towards the 1150/1131 levels ahead of the 1100 levels , above 1178 faces a recovery risk towards the 1225/1255 levels before the next fall.


XAUUSD Daily Forecast Nov 10 2014