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

XAUUSD market technical outlook

Daily chart:

Corrective upswing has slightly renewed the high, however got a pinbar at its tip afterwards. This pinbar isn’t a flawless short-setup (i.e. another forming of the high is still likely, red trajectory), however it quite reflects the buyers’ weakness. Thus a segue of the market to a downward trending stage may take place (black arrow).


Local trend has signs of a bullish structure (in particular, higher low and renewal of the high). However the tone of this structure is unsteady so far, therefore in case a key support in the area of the closest low (1721.91) gets broken, we would expect a slump of the quotes to 1707.70 first and then to 1699.00-1700.00.


Main scenario: Decline to 1707.70 and 1700.00.

Alternative scenario: In case of an upward bounce off 1721.91, gold may extend recovery to 1750.00, 1755.00, 1760.00.

Trading recommendations:

  1. Shorts to 1707.70 and 1700.00.

  2. Longs from 1721.91 (in case of getting additional buy signals here on H1-H4 charts).

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