Fort Financial Services Ltd acts under international brokerage license and appears as best ECN Forex Broker in Asia
XAUUSD market technical outlook
2020-04-15 09:42:04
Gold is forming corrective downswing and it may take 2 days to complete it (today and tomorrow). It’s likely that they will be actively buying the asset at the support area 1689.36-1702.58 today.
H1-chart:
We note a strong support at the area of local low 1707.89, which is being probed right now. Upward bounce here is very likely (black arrow).
But in case of its break (red scenario), the structure will get bearish pattern Over&Under suggesting the end of uptrend.
Conclusions:
Main scenario: Upward bounce off 1707.89 and growth in direction 1730.00-1740.00.
Alternative scenario: Break of support 1707.89 and decline to 1692.50.
Trading recommendations:
-
Above 1707.89 - longs to 1730.00-1740.00.
-
Below 1707.89 - shorts to 1692.50.
Latest news
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 […]
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 […]