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

XAUUSD market technical outlook

Daily chart:

Forming of downswing went on, therefore now it’s reasonable to expect from bulls reaching mid-term resistance zone 1588.42-1592.52. In turn, a corrective swing might take place from this zone toward 1576.71 as the structure doesn’t have a steady bullish tone.


Local upward structure already formed a full-scale corrective upswing, therefore from current levels we can get one upward start in direction 1588.42-1592.52.


So, we expect growth to 1588.42-1592.52 and then downward reversal.

Trading recommendations:

  1. Longs to 1588.42-1592.52.

  2. Shorts from 1588.42-1592.52.

Latest news

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

Deposits are even more profitable now!

2021-02-01 11:29:44

Only until February 26, special deposit rates* are available for all traders in Malaysia, Indonesia, Vietnam and Thailand: 3.6 MYR = 1 USD 10 000 IDR = 1 USD 20 000 VND = 1 USD 25 THB = 1 USD *Only Local bank deposit method is included Hurry up to take advantage of the offer until […]