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

XAUUSD market technical outlook

Daily chart:

Bears renewed local lows in quite a brutal style yesterday having upset by that buyers’ apple-cart as they had good chances for an upward spurt. Now the structure has chaotic flat shape and further scenarios might be drastically different: from the forming of bullish inside bar today (blue round mark) to extension of decline in direction of the mid-term support 1848.48-1850.00 (red arrow). 


Local downward structure is still forming corrective upswing, which can be extended up to PPZ 1900.42-1902.00. By the time of testing this PPZ the correction most likely will be exhausted. Thus we can consider long trades to the mentioned zone first and then short trades reckoning on a new downward reversal of the market.


Main scenario: Growth to 1900.42-1902.00, then downward reversal in direction 1890.00.

Alternative scenario: Extension of decline from current levels in direction 1850.00.

Trading recommendations:

  1. Longs to 1900.42-1902.00.

  2. Shorts from 1900.42-1902.00 to 1890.00.

Latest news

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

Deposits are even more profitable now!

2021-02-01 11:29:44

Only until February 26, special deposit rates* are available for all traders in Malaysia, Indonesia, Vietnam and Thailand: 3.6 MYR = 1 USD 10 000 IDR = 1 USD 20 000 VND = 1 USD 25 THB = 1 USD *Only Local bank deposit method is included Hurry up to take advantage of the offer until […]