XAUUSD (1287.42): Gold prices settled into a doji pattern for the last two daily sessions. This pattern forms just above the support level at 1281.15. The flat price action is likely to see either the bearish trend resuming, which would mean that price will have to break past the support level at 1281.15, or a retracement. The 38.2% Fibonacci retracement comes near the resistance level that is likely to be tested at the 1306 – 1304 region while a deeper retracement could mean that gold prices will test the next resistance level at the 1321 – 1318 region
