XAUUSD Weekly Forecast Sept 22 2014

Outlook in XAUUSD remains on the downside as long as long resistance 1257 holds on a weekly closing basis , support comes at the 1213 levels ,  losing this level will accelerate the bearish move towards the 1200 levels . a halt is likely , but further losses will pave the way towards the 1180/1170 levels…

On the upside , resistance comes at the 1242 levels ahead of the 1257 levels (main) , a clear break above the 1257 levels will turn outlook neutral for retesting the 1310 levels before the next fall…

In all , as long as resistance 1242/1257 holds on a weekly closing basis , outlook in XAUUSD remains on the downside towards the 1200 levels and possible lower towards the 1180/1170 levels , a clear break above the 1257 levels will reverse risk towards the 1292/1310 levels before the next fall…

 

Conclusion :

Time Frame : Weekly

Bearish Mode : Below 1257

Recovery Mode: Above 1257

Bullish Mode : Above 1310

 

XAUUSD Weekly Forecast Sept 22 2014

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