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

XAUUSD market technical outlook

XAUUSD market technical outlook
Daily chart:

As it was supposed bears have tested support area 1480.70-1483.11, that may cause upward bounce and as a consequence start of new upswing in direction of the last structure’s high (1516.39-1519.17 zone).

H1-chart:

Local structure has chaotic developments so far, but given that gold undergoes the stage of upswing building, we can assume that bulls will manage to test resistance levels 1492.84 and 1494.67.

Conclusions:

Main scenario: Growth in direction 1492.84 and 1494.67 and after that market will again retrace to the downside to 1489.00-1490.00.

Alternative scenario: Break towards 1500.00.

Trading recommendations:

Longs towards 1492.84, 1494.67, 1500.00.

Latest news

FortFS 10-year anniversary = 10% cashback

2020-06-30 08:40:55

To celebrate our 10-year anniversary we are going to provide a 10% compensation for every trading order closed at a loss to all Clients! PARTICIPATE IN THE PROMOTION TO GET THE MOST OUT OF TRADING WITH FORTFS: Compensation for every trading order closed at a loss Fully withdrawable without trading turnover requirements Compatible with deposit […]

+$500 FOR TRADING

2020-05-27 07:58:43

Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive bonus funds for […]