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

XAUUSD market technical outlook

Daily chart:
Mid-term pivot-zone 1562.29-1567.62 was tested today, which as we see is triggering quite an intensive bounce. Thus there are big odds for reversal and forming of new upswing.

H1-chart:

Local downward structure has ideal proportions of downtrend. Given a completed corrective upswing and testing of the pivot-zone 1589.40-1593.62 bears can sharply regain control at current levels and switch market to another trending decline which can break the last low (1567.85). 

Conclusions:

Main scenario: Decline under 1567.85 with aim at 1560.00 and 1550.00.

Alternative scenario: Growth above 1600.00 can provide gold with upward reversal till the end of this week.

Trading recommendations:

Shorts to 1560.00 and 1550.00.

Latest news

Reduced spreads for popular pairs

2021-02-11 15:07:39

FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications

Deposits are even more profitable now!

2021-02-01 11:29:44

Only until February 26, special deposit rates* are available for all traders in Malaysia, Indonesia, Vietnam and Thailand: 3.6 MYR = 1 USD 10 000 IDR = 1 USD 20 000 VND = 1 USD 25 THB = 1 USD *Only Local bank deposit method is included Hurry up to take advantage of the offer until […]