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

XAUUSD market technical outlook

Daily chart:

Gold continues to close above the 1485.00 level, where we have a solid mid-term support zone. This indicates, that further trending downward movement will be complicated and market consequently will have to choose a scenario of corrective upswing development before continuation of decline.

H1-chart:

Local structure has visible bullish momentum, therefore after completion of consolidation in the range of last swing (1487.74-1492.92) we can expect new upward momentum above the psychological mark 1500.00.

Conclusions:

Main scenario: Growth above 1500.00.

Alternative scenario: Flat in the 1487.74-1492.92 range.

Trading recommendations:

Longs from 1490.00 to 1500.00 and higher.

Latest news

Reduced spreads for popular pairs

2021-02-11 15:07:39

FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications

Deposits are even more profitable now!

2021-02-01 11:29:44

Only until February 26, special deposit rates* are available for all traders in Malaysia, Indonesia, Vietnam and Thailand: 3.6 MYR = 1 USD 10 000 IDR = 1 USD 20 000 VND = 1 USD 25 THB = 1 USD *Only Local bank deposit method is included Hurry up to take advantage of the offer until […]