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%

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