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

XAUUSD market technical outlook

Daily chart:

It’s surprising, but upswing was fully completed by yesterday’s local high. Given that after this peak market got bearish close, we can say that the gold market is highly consolidated. Consolidation range is 1910.00-1961.70. Thus we can expect a break of this range and active impulse distribution in direction of the break.

In case of upward ejection gold might attack resistance 2015.31 again (scenario 1). In case of downward break we would expect a drop to 1863.00 (scenario 2).

H1-chart:

Local structure keeps bearish tone so far. Potential offer zones are 1937.38 and 1945.88. Intraday target of decline is 1911.25.

Conclusions:

Testing of resistance levels 1937.38 and 1945.88, then decline to 1911.25.

Trading recommendations:

Shorts from 1937.38 and 1945.88 to 1911.25.

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 […]

Deposit Bonus 200%

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%? […]