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.


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.


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


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! πŸ† 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 πŸ“ How to get the bonus: 1) Register an […]