flag-gb flag-my flag-zh flag-id flag-th flag-vi


The new trading week, the yellow metal began with quite a confident growth, more than 0.85%, thanks to support from the dollar and the high level of demand for defensive assets.

Growing concerns about the future prospects of the US economy have put pressure on the US dollar. On Friday, traders received a strong signal indicating a possible recession in the US, for the first time since 2007, yields on 10-year and 3-month US government bonds almost reached the same level. Now investors are waiting for new data of important economic statistics from the United States, to assess the current situation in the country and assess the prospects for market’s directions.

On the whole, the market still maintains a fairly high level of demand for safe assets, as investors are increasingly concerned about the development of the world economy. All data published this year indicates a slowdown in growth, which puts pressure on stock exchanges.

Today, the focus of investors remains on the situation on the stock markets, as well as economic data from the United States, which can have a fairly strong impact on the dollar and gold, respectively. Today a report on the construction sector is expected to be published, as well as an index of CB consumer confidence. Regarding the main indicators, experts expect the release of stronger data, which may increase the pressure on the yellow metal.

On the graph for the last day there were no significant changes. Gold continues to move within the upward price channel. Price growth is accompanied by numerous price pullbacks down, but reversal signals have not yet been formed as part of these kickbacks. Therefore, in the medium term, the priority remains with the growth of quotations to the level of 1350.00. If we consider the situation locally, then there are signals for the formation of the next rolling back motion with the goal at the level of 1310.00.

 Resistance Levels: 1320.00, 1330.00, 1340.00;

 Support levels: 1310.00, 1300.00, 1295.00.

The main scenario - a decline to 1310.00.

An alternative scenario - consolidation above 1320.00 and an increase to 1330.00.

The fundamental background for the instrument changed from positive to neutral, which exerts a certain pressure on the price. At the younger time intervals, there are also signals about the possible development of the rolling back motion, therefore, within the day, we give preference to shorts, which should be looked for at the level of 1320.00

Latest news

8,88% negative trades compensation

2019-04-02 06:51:06

FortFS launches Ultimate Cashback promotion! The promotion is aimed to get the balance compensation per each trade closed with the negative result. Compensated amount is fixed and is equal to 8,88% of the loss amount. All compensations are credited into the trading account automatically.

Unlimited Leverage

2019-03-01 16:41:06

What is the unlimited leverage? Usually it means borrowed funds provided by broker to clients to enable clients to open larger positions and to increase income from investing without increasing their investments. However, the leverage always has an established limit which is originally determined by the broker and cannot be changed.