XAUUSD Weekly Forecast Apr 21 2014

Outlook in XAUUSD remains neutral this week with risk to the upside, resistance comes at the 1300 levels ahead of  1335 (main), a clear break above this level would open 1360 next , further upside will aim the 1382 levels….

On the downside ,stability below the  1335 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 , outlook in XAUUSD remains to the upside towards the 1335  levels and possible higher , below 1375 will reverse risks towards the 1267/1240 levels .

XAUUSD Weekly Forecast Apr 21 2014