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

XAUUSD market technical outlook

Daily chart:

Gold tumbled way deeper than it was anticipated. But now we see quite sharp upward bounce, which pierced three strong levels in a row. Thus if we get stabilizing above the pivot-zone 1588.42-15.9352, further development of upswing in direction 1625.00-1630.00 will be highly likely.


Local structure so far keeps the tone of a perfect downtrend. Besides that, corrective upswing is fully completed. Thus the most likely scenario after all is a start of new movement to the downside with an attempt of breaking the last low (1551.36, black arrow).

We might consider upward reversal only in case the bulls will prevent renewal of the low (red trajectory).


Main scenario: Decline of the quotes in direction 1550.00 and 1540.00.

Alternative scenario: Upward reversal from 1560.00-1563.00 with attempt of settling above the psychological level 1600.00.

Trading recommendations:

  1. Shorts to 1550.00 and 1540.00.

  2. Longs from 1560.00-1563.00 (only in case of forming additional signals at this region). 

Latest news

No Deposit Bonus 100 USD – available for 3 days only!

2020-11-23 08:44:40

Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]

Deposit Bonus 200%

2020-11-03 08:45:33

Only from November 02nd to December 04th, 2020, 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 200%? […]