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

XAUUSD market technical outlook

Daily chart:

Upward correction of gold kicked off that was predictable. Market recovered to the accumulation zone 1800.00-1811.50, but so far didn’t form a full-fledged swing. This allows traders reckoning on extension of growth in direction 1850.00, where the latest broken low resides and a significant pivot respectively.

Also we can’t rule out a scenario when the price switches to a flat in the 1800.00-1811.50 range (black arrow).

H1-chart:

A very long bullish swing was formed within the local structure that of course will facilitate the forming of corrective downward movement. Though such movement might be low-sloped

Conclusions:

Main scenario: Flat in the 1804.11-1816.98 range.

Alternative scenario: Extension of growth in direction 1850.00.

Trading recommendations:

  1. Intraday trades in the 1804.11-1816.98 range.

  2. Mid-term longs from 1804.11 to 1850.00.

Latest news

DEPOSIT BONUS 200%: PROLONGED TILL 04 JANUARY 2021!

2020-12-04 08:57:41

Only from November 02nd, 2020, to January 04th, 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 […]

No Deposit Bonus 100 USD – available for 3 days only!

2020-11-23 08:44:40

Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]