XAUUSD – Intraday Forecast 21 Jan 2014 (Rebound)
Recommendations: LONG positions above 1245 with 1250 & 1255 as next targets.
Alternative scenario: The downside breakout of 1245 will open 1240/1235 levels.
Description: Intraday bias in XAUUSD is neutral with risk to the upside towards 1250 ahead of 1255 levels as long as support 1245 holds on hourly basis, break of 1255 will open 1260 next. On the downside, break of 1245 on an hourly basis would reverse risks to the downside towards 1240 ahead of 1235 levels, a further break will aim 1230 levels.