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

XAUUSD market technical outlook

Daily chart:

Upswing which was needed by the downward structure was fully completed in 1,5 days. This will substantially simplify further decline of the gold quotes.

Though we won’t make haste - there is still a chance for extension of upward correction in direction of the pivot-zone 1902.42-1910.88, where we would expect massive sell-offs.

 

H1-chart:

Local corrective downswing is formed, therefore growth of gold might be resumed from current levels. As we type this report an alternative (red) scenario is virtually cancelled as a bullish inside bar is half-formed, which may become a buy signal in direction 1902.42-1910.88.

 

Conclusions:

Growth in direction 1902.42-1910.88.

Trading recommendations:

  1. Longs to 1902.42-1910.88.

  2. Shorts from 1902.42-1910.88.

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 […]