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%: PROLONGED TILL 04 JANUARY 2021!

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 […]