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

XAUUSD market technical outlook

Daily chart:

Yesterday bulls managed to renew the high of bearish pinbar, which didn’t drive to the forming of full-fledged downswing after all. Thus we can expect a new attempt of downward reversal from the next resistance at 1985.00-1992.07.

H1-chart:

Upward break of local consolidation drove to quite intensive distribution, which might get exhausted. This allows to reckon on forming of an intermediate corrective downswing in direction of the pivot-zone 1951.36-1954.48. The main demand volume may reside right in this area.

Conclusions:

Main scenario: Touch of 1969.00-1970.00, then decline to 1951.36-1954.48 and after that growth will resume.

Alternative scenario: Extension of growth in direction 1985.00-1992.07 without prior correction.

Trading recommendations:

Longs to 1985.00-1992.07 (optimal entry point is 1951.36-1954.48).

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