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

XAUUSD market technical outlook

Daily chart:

As we assumed previous day was closed by bearish inside bar at the tip of upswing being a solid short-setup. Thus we can expect a start of strong downward movement within new swing. Supposed target of bears will be support area 1480.70-1483.11.

H1-chart:

We note two strong resistance levels capable to crash gold’s quotes after completion of upward correction. These are 1508.13-1508.89 and 1514.00. New downswing can be triggered from each of these levels in direction 1485.50.

Conclusions:

Main scenario: Touch of 1508.13-1508.89 and then decline to 1495.50.

Alternative scenario: Growth towards 1514.00 and then start of steep downswing in direction 1495.00.

Trading recommendations:

Shorts form 1508.13-1508.89 and 1514.00 to 1495.00.

Latest news

WE ARE LOWERING THE SPREADS ON EURJPY AND GBPJPY!

2019-11-05 10:52:05

Dear traders and partners, From October 29 to November 30, 2019, FortFS reduces spreads for 2 more pairs: EURJPYf: 1.3 GBPJPYf: 2.8 Spreads on the 4 most popular currency pairs will remain the same: EURUSDf: 0.8 GBPUSDf: 0.9             USDJPYf: 1.0             XAUUSDf: 3.5 Good […]

Autorebate Extra

2019-11-05 10:42:35

Dear clients, From November 04 to December 06, 2019, FortFS increases payouts for your current autorebate! The main advantages of Autorebate Extra: Cashback is increased by 10% Get up to 33 USD for 1 lot! Available on FORT, FLEX and cent accounts How to activate Autorebate Extra: Log into the Trader’s cabinet Select “Autorebate” in the left menu […]