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

XAUUSD market technical outlook

Daily chart:

Gold got an active correction to the upside, but right now it has risks to get stuck in a very wide and sticky pivot-zone 1561.45-1594.00. This zone virtually almost caused an effect on the market and most likely this will happen today as well.

We can’t rule out a pin toward the area of round psychological level 1600.00, but this will probably only boost sell-offs.


Local upward structure has a very long trending swing that also speaks for development of downward correction.

We note PPZ 1547.38-1553.56, which can either trigger one more upward movement (black trajectory) or correction will be extended to the downside in direction 1515.66-1522.51 (blue arrow).


Main scenario: Decline to 1547.38-1553.56 and then growth to 1594.00-1600.00 with following steep downward reversal.

Alternative scenario: Decline to 1547.38-1553.56 first and then continuation in direction 1515.66-1522.51.

Trading recommendations:

  1. Shorts to 1547.38-1553.56 and 1516.66-1522.51.

  2. Longs from 1547.38-1553.56 to 1594.00-1600.00.

  3. Shorts from 1594.00-1600.00.

Latest news

Deposit Bonus 200%

2020-03-19 07:35:21

Only from March 24th to April 24th, 2020, Deposit Bonus 200% will be 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 […]

No Deposit Bonus $10000 cents

2020-03-13 07:32:02

The biggest FortFS bonus is back for 4 days only! Only from 17.03 to 20.03 every FortFS client will have a chance to get $10000 cents no deposit bonus! How to participate? To have a FortFS account To be a member of the official FortFS chat-group in Telegram (@fortfs_chat) Detailed Terms and Conditions will be available across our social […]