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

XAUUSD market technical outlook

Daily chart:

Gold has fully formed downswing that may hinder passing of the price through support zones 1858.00-1860.00 and 1850.00. Nevertheless, let’s note that there are no direct signals of decline ending, therefore it’s sellers who will possess the positioning advantage.


Local downward structure undergoes a trending stage, therefore a further negative scenario on gold has better chances. We expect a decline to 1850.00 and the market's reaction to this support.


Main scenario: Decline to 1850.00 and upward reversal afterwards.

Alternative scenario: Break of support 1850.00 and further drop of the quotes by $5-10 in direction 1845.00 and 1840.00.

Trading recommendations:

  1. Shorts to 1850.00, 1845.00, 1840.00.

  2. Longs from 1850.00 (in case of getting confirming signals on local H1-H4 charts).

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 […]