XAUUSD Weekly Forecast Feb 16 2015

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gold65FILEminimizer

Outlook in XAUUSD remains neutral with risk to the upside at the moment , support comes at the 1224 levels , a failure to hold below the 1224 levels on a weekly closing basis could mean a return to the 1280 levels , a halt is likely but a break would open 1315 next , further upside will target the 1340 levels.

On the downside , support comes at the 1224 levels , sustained breakout – weekly closing – below the 1224 levels will terminate the current bullish run and pave the way towards the 1131 levels..

In all , as long as 1224 support holds on a weekly closing basis , outlook in XAUUSD remains on the upside towards the 1280 levels ahead of the 1315 levels , below the 1224 levels will terminate the current bullish run and pave the way towards the 1131 levels..

 

XAUUSD Weekly Forecast Feb 16 2015

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