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

XAUUSD market technical outlook

Daily chart:

The structure got an upward reversal after bulls confidently broke resistance at 1910.54-1920.00 on Friday. Thus we can talk about high probability of further recovery of gold in direction of resistance zone 1961.69-1973.32.

H1-chart:

Local structure so far doesn’t have an intermediate corrective downswing, which is needed for further growth. Market probably will have to roll back to 1920.00-1922.00 to gain required fuel in order to extend uptrend. 

Conclusions:

Main scenario: Pullback to 1920.00-1922.00, then new upward momentum in direction 1940.00, 1945.00, 1950.00.

Alternative scenario: Extension of growth to 1950.00 from current levels without correction.

Trading recommendations:

Longs from 1920.00-1922.00 to 1940.00, 1945.00, 1950.00.

Latest news

+$500 for trading

2020-09-29 08:00:46

+$500 FOR TRADING Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive […]

Share posts and earn money

2020-09-16 08:29:16

We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]