XAUUSD market technical outlook

2019-12-17 11:24:56

Daily chart:

Resistance at 1478.28-1480.70 drew attention to itself again yesterday having triggered a slight intraday downward bounce. We continue to base our opinion on anticipation, that further growth of the yellow metal’s quotes is unlikely due to the fact, that market lacks a full-scale downward pullback. Therefore local sell-offs from this resistance area are likely to be extended.

H1-chart:

Locally this barrier also looks impressive. Short-trades from resistance area 1477.75-1478.50 look promisingly.

Support levels 1470.17-1465.00 might be the targets of intraday decline.

Conclusions:

Decline to 1470.17 and perhaps 1465.00.

Trading recommendations:

Shorts to 1470.17 and 1465.00.

Latest news

DEPOSIT BONUS 200%: PROLONGED TILL 04 JANUARY 2021!

2020-12-04 08:57:41

Only from November 02nd, 2020, to January 04th, 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 […]

No Deposit Bonus 100 USD – available for 3 days only!

2020-11-23 08:44:40

Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]