XAUUSD – Weekly Forecast 06 -10 Jan

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Recommendations: LONG positions above 1205 with 1250 & 1268 as next targets.
Alternative scenario: The downside breakout of 1205 will call for a slide to 1190/1175.
Description: The XAUUSD halted its losses and recovered last week, however ;  stability above the key support 1205 will keep the bullish momentum intact and look for 1250 levels ahead of 1268, break of 1268 – which is not easy at all – will open 1285/1300 levels next. On the downside; main support comes at the 1205 levels, losing this level on would resume the bearish trend and opens 1190 ahead of 1175 levels.

Support and Resistance :1160 , 1175 ,1190 ,1205 ( pivot ) , 1220 , 1235 , 1250 , 1268

 

MARKET DATA

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1 COMMENT

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