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

XAUUSD market technical outlook

Daily chart:

Corrective downswing of gold is fully completed, therefore despite the absence of any direct long-signal we can expect new upward reversal at any moment.

Key support now resides at the area of last local low (1563.16): we can consider downward reversal of the trend in case this level is broken.


Local structure has signs of downward reversal, however bears have a very strong and stiff support zone 1570.40-1571.04 on the way. Bulls will keep high odds for upward start in direction 1582.79 while this zone is unbroken (see the black arrow).

If sellers pierce 1570.40-1571.04, gold might slump toward 1563.16.


Main scenario: Upward bounce off 1570.40-1571.04 in direction 1582.79.

Alternative scenario: Break of support 1570.40-1571.04 and further drop of the quotes to the 1563.16 region.

Trading recommendations:

  1. Above 1570.40-1571.04 - longs to 1582.79.

  2. Below 1570.40-1571.04 - shorts to 1563.16.

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 […]


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 […]