XAUUSD Daily Forecast Nov 20 2014

Outlook in XAUUSD has turned neutral with risk to the upside , support comes at the 1175 levels , a failure to hold below the 1175 levels on a daily closing basis could mean a return to the 1204 levels where a breach will turn focus on the 1211 levels, further upside will aim the 1232 levels before the next fall , however ; break of 1232 on a daily closing basis will build strong pressure on the 1255 levels.

On the downside , losing the 1175 levels on a daily closing basis will bring a corrective pullback towards the 1146/1131 levels before the next possible rise , below 1131 will open 1100 levels.

In all , as long as support 1175 holds on a daily closing basis , outlook in XAUUSD remains on the upside towards the 1204/1211 levels ahead of the 1232 levels , below 1175 will reverse risk towards the 1146/1131 levels before the next move …

 

XAUUSD Daily Forecast Nov 20 2014

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UPCOMING ECONOMIC EVENTS