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

XAUUSD market technical outlook

Daily chart:

A very distorted structure. A move of market-makers can tracked here, who slashed all buyers Friday by one good inside bar. At the same time the market apparently will need a corrective upswing, which, in case of break of pivot-zone 1690.52-1692.91 today, will head in direction 1720.78.


Local structure has bearish tone, therefore it’s going to very tough for bulls to overcome the psychological barrier of $1700 for a troy ounce. New sell-offs are highly likely here (red arrow).

If buyers manage to settle above the 1700.00 mark, correction may reach the 1717.49-1720.46 zone (black arrow).


Main scenario: Touch of 1700.00 and then downward reversal in direction 1680.00.

Alternative scenario: Break above 1700.00 and further development of upward correction in direction 1717.49-1720.46.

Trading recommendations:

  1. In case of failure to overcome 1700.00 - shorts to 1680.00.

  2. In case of break of 1700.00 - longs to 1717.49-1720.46.

Latest news

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

Deposits are even more profitable now!

2021-02-01 11:29:44

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 […]