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

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 […]