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

XAUUSD market technical outlook

Daily chart:

Bulls very confidently broke the barrier at 1610.00-1612.00 and now they virtually have no obstacles for further growth of the gold’s quotes to 1560.00 and 1700.00.

H1-chart:

Local upward structure has a very long trending swing that probably will trigger a development of correction from 1650.00 as market apparently will be in need of fuel for extension of such a bold uptrend.

Conclusions:

So, we expect testing of 1650.00 and afterwards a development of downward correction of $10-15.

Trading recommendations:

Longs to 1650.00 and 1700.00 (in medium-term).

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 […]