XAUUSD Intraday Forecast Feb 05

gold _ usd

Recommendations: LONG positions above 1247 with 1257 & 1265 as next targets.

Alternative scenario: The downside breakout of 1247 will call for a slide to 1240/1232.

Description: Intraday outlook in XAUUSD is on the upside as long as support 1247 holds on an hourly closing basis, break of 1265 on hourly basis is needed to resume rise from 1238 towards 1269 /1279 levels. on the downside, losing the key support 1247 would signal short term topping and increase the risk towards 1240 ahead of 1232 levels.

Support & Resistance :1232 ,1240 , 1247 (Pivot) ,1257 ,1265 , 1279

 

XAUUSD Intraday Forecast Feb 05

MARKET DATA

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