XAUUSD, H4 is approaching our Pivot point, potential for a drop
Description
Price is approaching our Pivot point at 1861.38 which is in line with our 61.8% Fibonacci retracement and ascending trendline resistance. We could potentially see price drop from our Pivot point towards our 1st support level at 1819.91, which is in line with 50% Fibonacci extension and 50% Fibonacci retracement. It is worth noting that price has broken out of the ascending trendline and MACD is showing bearish momentum, in line with our analysis.
Pivot: 1861.38
Why we like it:
61.8% Fibonacci retracement and ascending trendline resistance
1st Support: 1819.91
Why we like it:
50% Fibonacci extension and 50% Fibonacci retracement
1st Resistance: 1883.11
Why we like it:
76.4% Fibonacci extension and Horizontal graphical resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1861.38 which is in line with our 61.8% Fibonacci retracement and ascending trendline resistance. We could potentially see price drop from our Pivot point towards our 1st support level at 1819.91, which is in line with 50% Fibonacci extension and 50% Fibonacci retracement. It is worth noting that price has broken out of the ascending trendline and MACD is showing bearish momentum, in line with our analysis.
Pivot: 1861.38
Why we like it:
61.8% Fibonacci retracement and ascending trendline resistance
1st Support: 1819.91
Why we like it:
50% Fibonacci extension and 50% Fibonacci retracement
1st Resistance: 1883.11
Why we like it:
76.4% Fibonacci extension and Horizontal graphical resistance
Trading FX & CFDs carries high risk.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.