XAU USD forex weekly technical report for 9 to 13 may 2016

XAU USD forex weekly technical report for 9 to 13 may 2016Xau Usd forex weekly chart technical analysis Xau usd or gold spot this week closed with loss. Comex gold showing topped out pattern on weekly chart also confirms dollar index bottom.   My 1270$ tgt achieved in this week now next week. 1295 to 1310 is fresh short addition zone for tgt 1260 to 1245$.   For next week, xau/usd outlook remain weak and strategy remain sell on rise. We will see sharp selling rallies below 1260$.   Gold might test 1220 to 1200$ levels before moving on upside. Monthly chart also showing early signs for fresh downside in medium term.   50% correction of previous rally comes around 1165$ so expect that as medium term corrective tgt.

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