XAUUSD Weekly Forecast Jun 23 2014

The XAUUSD  maintained a strong  bullish momentum last week ,topped at the 1321.95 levels and printed support at the 1258.52  levels .This development leaves the pair targeting the 1344.25  levels , a halt is likely , but a break would open 1372.60 next , further upside will aim the 1403.90  levels.

On the downside , support comes at the 1276.66  levels ahead of 1258.52 ( main) , stability above support levels will keep the bullish momentum intact , however ; losing the 1258.52  levels on a weekly closing basis will reverse risks towards the 1240.43  levels , before the next possible rise.

In all , as long as support 1258.52/1276.66  holds on a weekly closing basis , outlook in XAUUSD remains on the upside towards the 1344.25  levels ahead of the 1372.60  levels .Below 1258.52  will reverse risks towards the 1240.43  levels……


XAUUSD Weekly Forecast Jun 23 2014