XAUUSD Weekly Forecast Feb 17-21

The XAUUSD continued its bullish momentum last week, bottomed at the 1265 levels, and topped at the 1321 levels .resistance comes at the 1330 levels, a halt is suggested and sellers may dominate the market around 1330, but break of 1330 will turn the focus on the 1362 levels , further out will aim the 1393 levels.

On the downside, support comes at the 1280 levels, stability above this levels will keep pushing on the 1330 levels, losing 1280 will bring a slide towards 1265 ahead of 1240 levels.

In all, as long as 1280 holds, the XAUUSD will remain biased to the upside with risk towards 1330 levels ahead of 1360 levels, stability below 1280 will turn outlook neutral for retesting 1265/1240 levels before the next rise.

 

XAUUSD Weekly Forecast Feb 17-21

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