Fort Financial Services Ltd acts under international brokerage license and appears as best ECN Forex Broker in Asia
XAUUSD market technical outlook
27 Oct, 2020 08:58
Daily chart:
Bullish pinbar was formed at the tip of the downswing yesterday being a strong buy signal. Thus we can expect development of a new upswing in direction of resistance zones 1918.58-1920.00 and 1931.20-1932.90.
H1-chart:
Local structure already has a typical for bullish trend break of the local high, but so far it’s unable to settle above the resistance zone 1908.25-1910.00. This leaves a chance for an intermediate downward correction of the pair in direction 1901.00-1903.00. In case this scenario takes place, an intraday potential of growth will be capped by resistance level 1913.89.
Conclusions:
Main scenario: Downward pullback to 1901.00-1903.00, then growth to 1913.89.
Alternative scenario: Direct growth from current levels in direction 1918.58-1920.00 with aim at further mid-term growth to 1931.20-1932.90.
Trading recommendations:
Longs to 1913.89 and 1918.58-1920.00 and 1931.20-1932.90. Optimal entry point is 1901.00-1903.00.
Latest news
2020-09-29 08:00:46
+$500 FOR TRADING Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive […]
2020-09-16 08:29:16
We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]