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

XAUUSD market technical outlook

Daily chart:

Gold switched to corrective downswing. The closest potential stopping point might be PPZ 1635.00-1640.00. However in case of a break correction might get way deeper and reach 1588.42-1593.52. Such bold target of course stands beyond a single trading session.

H1-chart:

Local downward structure is building corrective upswing. Its potential is limited by the closest high at resistance level 1681.40. And the next target of decline will be support level 1633.71.

Conclusions:

So, we expect completion of correction at 1680.00-1681.40 and after that decline of the quotes will be extended in direction 1633.71.

Trading recommendations:

Shorts from 1680.00-1681.40 to 1633.71.

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 […]