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

XAUUSD market technical outlook

Daily chart:

Support at 1720.78 shows steady demand for gold - bulls buy out here almost all local declines of the asset. This drove to forming of bullish pinbar by the end of yesterday’s session that might be a signal for development of upswing. However the structuredoesn’thavefullscaledownswing, therefore the strength and prospects of such signal might be doubtful.


Meanwhile ure retains all signs of lengthy bearish accumulation! Take a look at red pads formed by the market during every upward correction - each of them is lower than the previous that is inherent to negative trend.

Thus if this tendency remains in place today, we’ll get good chances to see a drop of gold to 1700.00-1703.43.  


Decline in direction 1700.00-1703.43.

Trading recommendations:

Shorts to 1700.00-1703.43.

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 […]