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

XAUUSD market technical outlook

Daily chart:

As it often happens during the phases when market reaches new peaks, the asset switches to correction instead of blustery extension of growth. Investors are striving for booking good profits that facilitates dampening of uptrend.

By the end of yesterday’s session a bearish inside bar was formed at the tip of upswing being a solid signal.

Thus we can expect a development of downswing in direction of support zone 1757.00-1758.00.


“Double bottom” is being formed at the area of local support 1795.00. This means that gold may retrace to the upside to 1804.78-1805.75 before resumption of decline. However it’s very unsafe to go long during such correction and it’s better to use it for getting the opportunity to enter shorts a bit higher.


Main scenario: Growth to 1804.78-1805.75 and then decline to 1790.00 and lower.

Alternative scenario: Extension of decline in direction 1780.00 and 1775.00 without prior correction.

Trading recommendations:

Shorts from 1804.78-1805.75 to 1790.00, 1780.00.

Latest news


2020-12-04 08:57:41

Only from November 02nd, 2020, to January 04th, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]

No Deposit Bonus 100 USD – available for 3 days only!

2020-11-23 08:44:40

Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]