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

XAUUSD market technical outlook

Daily chart:

Bullish inside bar, which was formed Friday, indeed influenced the market that showed a tangible false upward break. This opens prospects of forming a full-fledged corrective swing that requires renewing yesterday’s low (1855.00) by bears. Thus we expect a second testing of 1850.27-1860.00.

H1-chart:

Local downward structure is forming new trending downswing that also speaks for a scenario of decline under the closest low ($1855 for an ounce).

Conclusions:

Main scenario: Decline to 1850.27.

Alternative scenario: Deeper decline in direction 1830.00-1835.00.

Trading recommendations:

Shorts to 1850.27 and perhaps to 1835.00, 1830.00.

 

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