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

XAUUSD market technical outlook

Daily chart:

The 1638.00 level has triggered a corrective downward reversal today. Bulls’ fluency during the break of psychological barrier $1600 for an ounce casts big doubts on capability of bears to perform a tangible pullback. Though a touch of pivot-zone 1561.45-1576.71 looks quite reasonable on the chart.

H1-chart:

Gold undergoes corrective phase after a lengthy upswing. Given the fully completed downswing upward reversal can come at any moment. Bears’ targets (and concurrently the perspective zones of probable demand for the asset) might be 1547.38-1553.56 and 1515.66. Of course if they manage to pass the 1600.00 level. 

Conclusions:

Main scenario: Decline in direction 1547.38-1553.56 and 1515.66.

Alternative scenario: Upward bounce off 1600.00 and extension of growth in direction 1650.00.

Trading recommendations:

  1. Below 1600.00 - shorts in direction 1547.38-1553.56 and 1515.66.

  2. In case of upward bounce off 1600.00 - longs to 1650.00.

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 […]