XAUUSD Daily Forecast Oct 21 2014

Outlook in XAUUSD has turned to the upside as long as support 1233 holds on a daily closing basis , resistance comes at the 1251 levels , we might see hesitation but further upside is likely , If seen , focus will be on the 1273 levels ahead of the 1296 levels.

On the downside , support comes at the 1233 levels , losing this level on a daily closing basis ,  will bring a corrective pullback towards the 1219 levels before the next rise , however ; If 1219 fails on a daily closing basis , expect the pair to weaken further towards the 1209/1183 levels before the next move.

In all , as long as support 1233 holds on a daily closing basis , outlook in XAUUSD remains on the upside towards the 1251 levels ahead of the 1273 levels , below 1233 , the pair faces a pullback risk towards the 1219 levels before the next rise.

 

XAUUSD Daily Forecast Oct 21 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS