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

Deposit Bonus 200%

2021-04-13 10:05:09

Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is 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 […]

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