XAUUSD – Intraday Forecast 17 Jan 2014 (Rebound)
Recommendations: LONG positions above 1235 with 1245 & 1248 as next targets.
Alternative scenario: The downside breakout of 1235 will open 1230/1225 levels.
Description: Intraday bias in XAUUSD is neutral with risk to the upside towards 1245 ahead of 1248 levels as long as support 1235 holds on hourly basis, break of 1248 will open 1252 next. On the downside, break of 1235 on an hourly basis would reverse risks to the downside towards 1230 ahead of 1225 levels, a further break will aim 1220 ahead of 1215 levels.