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

XAUUSD market technical outlook

Daily chart:

Insanely long upswing approaches the long-term resistance zone 1973.22, where due to overbought conditions a downward reversal will be highly likely. Supposed mid-term target of correction will be 1931.20-1932.93.



Local upward structure got a bearish pinbar at its top that may let the market correct the price to 1952.00-1953.00. Then, we would again consider long trades in direction 1973.22.


Main scenario: Decline to 1952.00-1953.00, then growth to 1973.00.

Alternative scenario: Growth to 1973.22 without prior correction. Downward reversal afterwards.

Trading recommendations:

  1. Longs from 1952.00-1953.00 to 1973.22.

  2. Shorts from 1973.22.

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 […]