XAUUSD Weekly Forecast Sept 29 2014

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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, the 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…

 

XAUUSD Weekly Forecast Sept 29 2014_

 

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