CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


Market Opportunities - 06/08/2019

06 August, 2019

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

GOLD an uptrend opportunity based On 1.00 Lot* Calculation:

Gold managed to break above $1,440 area after a certain period of consolidation. The rate cut helped the commodity to break above this strong resistance level.

Today gold prices rose amid the escalating US-China trade dispute, while political concerns in Hong Kong also spurred safe-haven demand. Gold is certainly benefiting from the global concerns about the outlook for growth, and central banks are likely to maintain their accommodative stance, so the demand for gold as an alternative investment has increased dramatically. Moreover, it is expected to surge higher.

Last week, US President Donald Trump unexpectedly announced additional tariffs on $300 billion worth of Chinese imports. According to local reports, China vowed to fight back but did not give any further details. This situation might lead to a mixed market sentiment and the price correction.

GOLD, August 6, 2019
Pivot point: 1460.00



Trend Direction


Resistance 3


Resistance 2


Resistance 1


Support 1


Support 2


Support 3


Example of calculation base on weekly trend direction for 1.00 Lot*

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss Short in $







Profit or loss Short in €







Profit or loss Short in £







* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 10:30 GMT+1 6/8/2019
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** Please consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Senior Account Manager for more details

Share It With Your Network
GOLD Chart
Update Time: -
1M 5M H D W
Prices are loading..
Ready for trading?Start Now

Be aware of the following holiday trading schedule for the 2nd and 3rd of September, Labor Day – USA

Instrument Monday 02.09.2019 Tuesday 03.09.2019
All Forex Regular Regular
USA 500 Early close 16:59 Regular
USA-TECH 100 Early close 16:59 Regular
USA 30 Early close 16:59 Regular
JAPAN 225 Early close 16:59 Regular
USA 2000 Early close 16:59 Regular
DOLLAR INDEX Early close 16:59 Regular
Crude oil Early close 16:59 Regular
Brent Oil Early close 16:59 Regular
Natural Gas Early close 16:59 Regular
Heating oil Early close 16:59 Regular
Gasoline Early close 16:59 Regular
Corn Closed Regular
Soybeans Closed Regular
Wheat Closed Regular
Sugar Closed Regular
Cotton No.2 Closed Regular
Gold Early close 16:59 Regular
Silver Early close 16:59 Regular
Copper Early close 16:59 Regular
Palladium Early close 16:59 Regular
Platinum Early close 16:59 Regular
Bonds US Early close 16:59 Regular
Equities US Closed Regular
  • All times are GMT (0)
  • Please note: In case of low liquidity in a specific instrument, Fortrade may widen the spreads or even close the instrument for trading. Notifications will be issued regarding any such changes to the trading schedule.
  • The above times may be subject to change.
  • 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.