XAUUSD Weekly Forecast Apr 07 2014

The XAUUSD rebounded  from the 1275 levels as suggested last week , outlook remains neutral with possible risk to the upside , minor resistance comes at the 1.306 levels , sustained trading would open main resistance at the 1320 levels , a halt is likely , but a break will pave the way to the 1334 levels , further upside will aim the 1382 levels..

On the downside , a rejection from 1320 levels could mean a return to the 1275 levels , a break would open 1267 levels , below this level will look for the 1240 levels , further downside will aim the 1331 levels.

In all , as long as support 1275 holds on a weekly basis , the XAUUSD will remain based to the upside towards 1320 levels , below 1375 will reverse risks towards the 1267/1240 levels .


XAUUSD Weekly Forecast Apr 07 2014