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

XAUUSD market technical outlook

Daily chart:

The structure didn’t get a bullish swing so far, therefore the scenario of extension of gold rate recovery is very likely. This swing might be cut at resistance zones 1875.00 and 1898.73-1906.49. The latter zone is the most promising for shorts as here we have an offer zone according to O&U pattern.

H1-chart:

Local structure doesn’t have a corrective downswing so far. Plus a new high wasn’t printed yet. Given the absence of completed swing on the daily chart, there are big odds for growth extension.

We can consider deepening the correction to 1851.73 as an alternative scenario (blue trajectory). 

Conclusions:

Main scenario: Extension of growth in direction 1875.00 and 1898.73-1906.49.

Alternative scenario: Decline to 1851.37, then sharp upward reversal in direction 1875.00.

Trading recommendations:

Longs in direction 1875.00 and 1898.73-1906.49.

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