XAUUSD Weekly Forecast Sept 08 2014

Outlook in XAUUSD remains on the downside as long as 1272 holds on a weekly closing basis  , support comes at the 1258 levels , losing this level will accelerate the bearish move towards the 1258 levels where a cut will open the 1240 levels , further losses will aim the 1230 levels…

On the upside , resistance comes at the 1272 levels , sustained trading above the 1272 levels will turn outlook neutral for retesting the 1292 levels before the next fall , a clear break above this level will bring strong recovery towards the 1322 levels..

In all , as long as resistance 1272 holds on a weekly closing basis, outlook in XAUUSD remains on the downside towards the 1258 levels  and possible lower towards the 1240/1230 levels , above 1272 will reverse risks towards the 1292  levels before the next fall…


XAUUSD Weekly Forecast Sept 08 2014