As we supposed yesterday, gold got support at the area of 8-day EMA that resulted in a tangible upward bounce.
Thus bulls have good chances for trying to attack the last structure’s high (1764.88).
And locally we have an opposite signal! Bearish pattern Over&Under which can trigger decline as the price resides at the area of potential offer 1750.47-1751.95.
In case of confirming the quotes can slide to support zone 1725.49-1726.82.
Main scenario: Decline from current levels in direction 1725.49-1726.82.
Alternative scenario: Break above 1751.95 and growth in direction 1765.00-1770.00.
Shorts from 1750.47-1751.95 to 1725.49-1726.82.
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
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 […]