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

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 […]


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 […]