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

XAUUSD market technical outlook

Daily chart:

Bearish pinbar was received yesterday at the tip of upswing. Such formation is not a trading setup, however it can quite attest weakness of buyers. We’ll scarcely see a strong drop of gold, but amid probable pre-New Year cashing out the quotes might slide to the closest support zone 1850.27-1857.06.


Local structure so far has a visible contraction of the trading range both from upside and downside, which is a sign of consolidation. Well, if bears manage to keep temporary control over the market, they’ll most likely prevent the break of the local high 1881.85-1883.00 (black arrow). Otherwise gold might again recover to 1896.00 for a short term (red scenario on the chart).


Main scenario: Decline in direction 1850.27-1857.06.

Alternative scenario: Flat in the 1872.00-1883.00 range.

Trading recommendations:

Shorts in direction 1850.27-1857.06.

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