XAUUSD Weekly Forecast 13 -17 Jan

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Recommendations: LONG positions above 1230 with 1255 & 1268 as next targets.
Alternative scenario: The downside breakout of 1230 will call for a slide to 1220/1210.
Description: The XAUUSD halted its losses and recovered last week as expected, however ; Initial bias remains to the upside this week as long as support 1230 holds with risk towards 1255 ahead of 1268 levels, break of 1268 would open 1275/1285 next. On the downside, losing the key support 1230 on a 4-hour closing basis will turn bias to the downside towards 1220 ahead of 1210 levels, further out will aim the 1200/1190 levels…

Support and Resistance :1200, 1210 ,1220 ,1230 ( pivot ) , 1240 , 1255 , 1268 , 1275 , 1285

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