XAUUSD Weekly Forecast Dec 29 2014

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Outlook in XAUUSD remains on the downside as long as 1235/1257 resistance holds on a weekly closing basis , support comes at the 1161 levels , a cut will terminate the recovery mode and open main support at the 1122 levels, a halt is strongly suggested , however ; sustained trading – weekly closing – below the 1122 levels will bring sell-off towards the 1085/1044 levels.

On the upside , resistance comes at the 1203 levels ahead of the 1235/1257 levels (main) , break of the 1257 levels on a weekly closing basis is needed to signal short term bottoming , If seen , focus will be on the 1292 levels ahead of the 1345 levels.

In all , as long as 1203/1257 resistance holds on a weekly closing basis , outlook in XAUUSD remains on the downside towards the 1161 levels ahead of the 1122 levels , above 1257 levels will reverse risk towards the 1292/1345 levels.

XAUUSD Weekly Forecast Dec 29 2014

MARKET DATA

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