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

XAUUSD market technical outlook

Daily chart:

Gold is consolidating in the range between PPZ 1689.36-1702.58 and resistance 1746.27. It looks like this tendency will be extended as the structure apparently will need a corrective swing for continuation of uptend.

H1-chart:

We also note a strong local resistance at the area of $1725 for an ounce, which bulls are unable to overcome as we see. Thus we expect one more downswing in direction of support level 1711.25. It looks like today session will flow between these levels.

Conclusions:

Flat in the 1711.52-1725.00 range.

Trading recommendations:

  1. Shorts to 1711.25.

  2. Longs from 1711.25 to 1725.00.

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 […]