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

XAUUSD market technical outlook

Daily chart:

Upswing reached the pivot-zone 1850.00-1860.00, where technically a new downward reversal may take place. However the bulls look quite good and don't show signs of weakness during the current swing.

Thus a more likely scenario appears an extension of growth in direction 1894.47-1898.73 (blue arrow).

H1-chart:

Local structure so far has an anomaly which is expressed in an equality of bullish swings on this time-frame and on the daily chart. As a rule, such anomalies don’t exist too long. Therefore further growth of gold can be considered after local correction in direction of the PPZ 1847.45-1849.65.

Conclusions:

Main scenario: Pullback to 1847.45-1849.65, then extension of growth in direction 1870.00-1880.00.

Alternative scenario: Extension of growth in direction 1870.00-1880.00 without a pullback.

Trading recommendations:

Longs from 1847.45-1849.65 to 1870.00, 1880.00, 1890.00, 1900.00 (in medium term).

 

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 […]