Market forecast for next weekGOLD / US DOLLARPYTH:XAUUSDChuck_WilsonThe US dollar index closed lower this week, with further downside potential next week; watch the 100-97.3 range. Friday saw a long-shadowed bearish candlestick, and Monday's focus is on a breakout from the 98.8-98.1 range. Gold prices fluctuated wildly this week, rising and then falling back, but the overall weekly chart recorded its third consecutive week of gains, ultimately closing with a long-shadowed bullish candlestick. Judging from the closing price alone, next week will likely continue to see wide-range fluctuations. The upper resistance is around this week's high of 4857, and the support is at 4600. Before the price breaks through these levels, the strategy is to sell high and buy low. If it breaks through, continue to look towards 4910-5020; if it breaks down, look towards 4480-4390. I personally lean towards a volatile upward trend. Friday's daily chart showed a consolidation phase, ultimately closing with a bearish doji candlestick, suggesting a potential decline followed by a rise on Monday. Daily resistance is around 4770; consider shorting if it doesn't break through. The hourly resistance level is at 4760, meaning that if the market weakens, it will likely fall back to around 4760. The first support level to watch is around the previous low of 4731. If this level holds, consider a small stop-loss order to go long. Once the price breaks down to 4731, 4720 should not be able to hold. I am more inclined to go to around 4700, and then go long again. Trading suggestion: Before the price breaks through 4770-4731 (4700), consider shorting at highs and buying at lows. If the price breaks through, refer to the analysis above. XAUUSD GOLD XAUUSD GOLD1!