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

XAUUSD market technical outlook

Daily chart:

Gold is still forming full-scale corrective bearish swing, which is needed to resume further upward movement. Optimal target of such correction is the closest broken high (1788.001789.00 area). But in case this zone proves broken, we might face a much deeper pullback to 1757.00-1760.00 (blue scenario).  


Within local structure a forming of upward correction is in progress. The closest stopping resistance is 1804.78-1805.00. But in case of its break, we’ll probably see the testing of 1810.00 level again. We might expect active sell-offs of the asset today from each of these zones in direction 1793.85-1795.71.


Main scenario: Growth to 1804.78-1805.00 and then decline to 1793.85-1795.71.

Alternative scenario: Higher correction to 1810.00 with following downward reversal in direction 1793.85-1795.71.

Trading recommendations:

Shorts from 1805.00 and 1810.00 to 1793.8501795.71. 

Latest news

Deposit Bonus 200%

2021-04-13 10:05:09

Only from April 12, 2021, to May 14, 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 […]

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