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

XAUUSD market technical outlook

Daily chart:

Gold extended growth having kept uptrend. However some questions might arise at the resistance zone 1680.49-1688.60, which quite can trigger corrective movement in direction of dynamic support 1645.00.

H1-chart:

Local upward structure develops corrective downswing. Should 1667.00 level be broken, a bearish reversal pattern Over&Under will be formed with recommended sell entry point 1677.00. Such scenario appears very realistic.

Conclusions:

Decline to 1660, then upward pullback to 1677.00 and after that gold will continue correction in direction 1652.00.

Trading recommendations:

  1. Longs from 1660.00 to 1677.00.

  2. Shorts from 1677.00 to 1652.02.

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