XAUUSD Weekly Forecast Jan 26 2015

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Outlook in XAUUSD remains on the upside as long as 1280 support holds on a weekly closing basis , resistance comes at the 1315 levels , a halt is likely but a break would open 1340 next , further upside will target the 1372 levels.

On the downside , support comes at the 1280 levels , losing the 1280 levels on a weekly closing will turn outlook neutral and bring a corrective pullback above the 1224 levels before the next rise , however ; sustained breakout below the 1224 levels -weekly basis – will terminate the current bullish run and pave the way towards the 1131 levels..

In all , as long as 1280 support holds on a weekly closing basis , outlook in XAUUSD remains on the upside towards the 1315 levels ahead of the 1340 levels , below the 1280 levels will delay the bullish move and bring consolidation above the 1224 levels before the next rise ….

 

XAUUSD Weekly Forecast Jan 26 2015

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