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

XAUUSD market technical outlook

Daily chart:

As we supposed yesterday support area 1562.29-1576.71 managed to hold gold triggering today a development of new upswing. Potentially this swing is quite able to reach resistance level 1643.31 at the last local high.


Consolidation of the market can be well seen in the local structure - we are getting consecutive lower highs and higher lows. Thus key resistance is the psychological level 1600.00: in case it’s broken, it will reverse the trend and direct the asset to 1612.73 (blue arrow).

While formally a break of 1600.00 hasn’t taken place, downward reversal in direction 1571.71 is still possible. 


Main scenario: Growth above 1600.00 to 1612.73.

Alternative scenario: Downward reversal from 1600.00 in direction 1571.71.

Trading recommendations:

  1. Longs to 1612.73.

  2. Shorts from 1600.00 to 1571.71 (in case alternative scenario is confirmed).

Latest news

Share posts and earn money

2020-09-16 08:29:16

We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]

No Deposit Bonus 100 USD

2020-08-20 20:43:20

Dear Traders, Make sure to receive $100 on your trading accounts only from the 20th to the 28th of August! No Deposit Bonus 100 USD is the best way to start trading and test all of the Company’s products! GET BONUS The bonus features: Withdrawal of up to 100 USD 75 lots of trading turnover […]