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

XAUUSD market technical outlook

Daily chart:

As we see, consolidation of the gold market was extended: already a second bullish inside bar was formed for the past three trading sessions (marked with yellow on the chart). Thus the asset looks quite poised for growth to resistance 1894.50 first and then to 1918.88-1921.00.

 

H1-chart:

Local upward structure so far doesn't have an intermediate corrective downswing. There was no direct signal for such correction so far, but a pullback to PPZ 1972.24 would be quite appropriate. Thus the 1872.24 level is the most attractive price for buying today.

 

Conclusions:

Main scenario: Pullback to 1872.24, then growth to 1883.50, 1894.50.

Alternative scenario: Direct growth to 1894.00 and 1900.00.

Trading recommendations:

Longs to 1894.00 and 1900.00. Optimal entry point is 1872.24.

 

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 […]