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

XAUUSD market technical outlook

 Daily chart:

Accumulation of volumes at the tip of upswing is in progress. At the same time a bunch of pin-like bars suggests unwillingness of the bulls to cede the asset for new sell-offs. Under such conditions, despite positioning advantage of the bears, traders should keep patience in order to get clearness regarding further intentions of the market.


Within the local structure a contraction of the trading range goes within the scope of recent swing (1730.68-1740.63). One of the likely scenarios today is retention of this tendency (black trajectory). And in case the rate goes lower, we would expect an attempt of the sellers’ move to the psychological support 1700.00 (red arrow).


Main scenario: Extension of consolidation in the 1730.68-1740.63 range.

Alternative scenario: Decline to 1700.00.

Trading recommendations:

  1. Short-term trades inside the 1730.68-1740.63.

  2. Mid-term shorts from 1740.63 to 1700.00.

  3. Shorts, reckoning on break of support 1730.00, to 1700.00.

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