Fort Financial Services Ltd acts under international brokerage license and appears as best ECN Forex Broker in Asia
XAUUSD market technical outlook
2020-08-19 08:00:38
Upswing slowed down at 2015.00 that probably will let gold pull back to 1970.00-1980.00 (black trajectory).
Close of today’s session in the shape of bearish inside bar could become a signal of bullish movement completion and switching to a new mid-term correction (red arrow).
H1-chart:
Local structure tolerated a slight break of the low that can be a sign of reversal forming via O&U pattern. To cancel such setup bulls have to break the recent high (2015.28).
Conclusions:
Main scenario: Growth to 2020.00.
Alternative scenario: In case of failure to go above 2015.28 the asset will start to correct to 2000.00 with aim at 1970.00-1980.00.
Trading recommendations:
-
Longs to 2020.00.
-
Short-term shorts to 2000.00, 1980.00, 1970.00 (in case an alternative scenario pans out).
Latest news
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 […]
2020-11-03 08:45:33
Only from November 02nd to December 04th, 2020, 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 200%? […]