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

XAUUSD market technical outlook

Daily chart:

Gold structure has intangible upward break, which doesn’t have full reversive power so far, but it substantially disrupts downward tone of the trend.

Thus probably we deal with flat in the 1480.70-1496.20 range. And stronger directed movements might be triggered after break of these boundaries (watch the red arrows). 

H1-chart:

Local structure has initial signs of downward market (lower high and following break of local low). Thus new downswing can quite reach the closest support level 1483.43, from where we might get an upward correction.

Conclusions:

Decline in direction 1483.43 and then rebound to the upside.

Trading recommendations:

  1. Shorts towards 1483.43.

  2. Longs from 1483.43 to 1488.00-1490.00.

Latest news

Deposit Bonus 200%

2021-04-13 10:05:09

Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]

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