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

XAUUSD market technical outlook

Daily chart:

Gold has stopped decline at the support zone 1848.37-1862.90 for a while. However a bearish pinbar was formed Friday that might be a sign of consolidation before extension of decline.

H1-chart:

A downward break already took place within local consolidation, therefore even today the market might test the support zone 1848.37-1848.50 again. In case the bears fail to overcome this zone on the fly, the asset might correct to 1857.00-1858.00 one more time.

Conclusions:

Main scenario: Decline to 1848.37-1848.50, then correction to 1857.00-1858.00.

Alternative scenario: Break of support 1848.37-1848.50 and further decline in direction 1830.00 and 1820.00.

Trading recommendations:

Shorts to 1848.50, 1830.00, 1820.00.

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