XAUUSD Weekly Forecast Feb 24-28

gold _ usd

Despite hesitation last week, the outlook in XAUUSD remains strongly on the upside as long as support 1307 holds on a weekly basis, resistance comes at the 1330 levels, break of 1330 will turn the focus on the 1362 levels, further out will aim the 1393 levels.

On the downside, minor support comes at the 1307 levels, losing this level will turn outlook neutral and bring consolidations, next support comes at the 1280 levels, note that downside below 1.307 should be contained well by the 1240/1280 levels.

In all, as long as support 1307 holds, the XAUUSD will remain biased to the upside with risk towards the 1330 levels ahead of 1360 levels, below 1307 will turn outlook neutral and bring consolidations.

XAUUSD Weekly Forecast Feb 24-28

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