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

XAUUSD market technical outlook

Daily chart:

Forming of corrective upswing is in progress, which development potential resides at 1881.84 and 1894.47-1898.73. Also we need to keep in mind that bears didn’t get a new low earlier, therefore bulls have good chances for a breakout and settling above the psychological level 1900.00.

H1-chart:

Local structure also has attributes of upward reversal: the latest low resides above the absolute local trough, then a break of the closest high 1869.51 has been performed. We would consider long trades during retest of this zone today holding positions in direction 1882.82-1886.09 and 1892.08-1893.12.

Conclusions:

Main scenario: Downward pullback to 1869.51 and then growth in direction 1882.82-1886.09 and 1892.08-1893.12.

Alternative scenario: Direct growth to 1882.82-1886.09 and 1892.08-1893.12 without prior pullback.

Trading recommendations:

Longs from 1869.51 to 1882.82-1886.09 and 1892.08-1893.12.

Latest news

Deposit Bonus 200%

2021-04-13 10:05:09

Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]

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