XAUUSD Forecast Feb 03-07

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Recommendations: LONG positions above 1232  with 1265 & 1279 as next targets.

Alternative scenario: The downside breakout of 1232 will open 1218/1194 levels.

Description: Outlook in XAUUSD is cautiously on the upside this week with risk towards 1265 ahead of 12797 levels as long as support 1232 holds on a daily closing basis, break of 1279 would open 1305 levels next. On the downside losing  1232 would signal short term topping and turn outlook bearish towards 1218 levels where a breach will turn the focus on the 1211/1194 levels.

Support & Resistance : 1194 , 1211 , 1218 , 1232 (Pivot) , 1237 , 1252 , 1265 , 1279 , 1305 , 1327
XAUUSD Forecast Feb 03-_008

MARKET DATA

UPCOMING ECONOMIC EVENTS