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

XAUUSD market technical outlook

Daily chart:

Growth of the gold quotes is in progress. Bulls scarcely will slow down before the psychologically important mark 1700.00. Though the size of current upswing of course makes us think of approaching correction.

H1-chart:

Local upward structure also has upswing of a very big scale without any signs of slowing or stopping. It’s obvious that market won’t be able to keep such steep trend for a long time. Therefore a start of downward correction from round level 1700.00 looks like a very viable scenario.

Conclusions:

Growth to 1700.00 and then downward reversal.

Trading recommendations:

  1. Longs to 1700.00.

  2. Shorts from 1700.00.

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