XAUUSD Weekly Forecast Aug 25 2014

Outlook in XAUUSD has turned to the downside this week , support comes at the 1272 levels , losing this level will accelerate the bearish move towards the 1258 levels , a halt is likely , but …further losses will aim the 1240/1230 levels before the next rise….

On the upside , resistance comes at the 1292 levels , a clear break above this level will bring the pair back towards the 1322 levels , a break will recapture the 1345 levels…

In all , as long as resistance 1292 holds on a weekly closing basis, outlook in XAUUSD remains on the downside towards the 1258 levels  and possible lower towards the 1240/1230 levels , above 1292 will reverse risks towards the 1322 levels and possible higher towards 1345 levels..


XAUUSD Weekly Forecast Aug 25 2014