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

XAUUSD market technical outlook

Daily chart:

Corrective downswing is fully completed giving the opportunity for stop and pivot to new trending upswing. Moreover the asset has tested exponential moving average.

However if current zone is proved to be broken to the downside bears most likely will be able to rapidly reach pivot-zone 1516.00-1518.72 (watch the black arrow).

H1-chart:

Local structure performed downward reversal of the trend via bearish pattern Over&Under. Given that there is a bullish inside bar at the tip of downswing (marked with black arrow) we can expect upward movement in direction 1588.00, where we have mid-term sell entry point according to O&U.

Conclusions:

So, we expect growth to the 1588 region and afterwards gold will again reverse to the downside.

Trading recommendations:

  1. Longs to 1588.00.

  2. Shorts from 1588.00.

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 […]