#XAUUSD above pivot, potential for bounce!
Description
Price is reacting above our pivot level at 1,725.21 which is in line with 38.2% Fibonacci retracement level. Price could potentially swing towards resistance at 1,756.13, which is in line with 50% Fibonacci retracement level, 100% Fibonacci extension level, 20EMA & horizontal overlap resistance.
Alternatively, price may drop to our support at 1,708.53, which coincides with 61.8% Fibonacci retracement level.
Pivot:
1,725.21
Why we like it:
38.2% Fibonacci retracement level
1st Support:
1,708.53
61.8% Fibonacci retracement level
1st Resistance:
1,756.13
50% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance.
Trading FX & CFDs carries high risk.
Price is reacting above our pivot level at 1,725.21 which is in line with 38.2% Fibonacci retracement level. Price could potentially swing towards resistance at 1,756.13, which is in line with 50% Fibonacci retracement level, 100% Fibonacci extension level, 20EMA & horizontal overlap resistance.
Alternatively, price may drop to our support at 1,708.53, which coincides with 61.8% Fibonacci retracement level.
Pivot:
1,725.21
Why we like it:
38.2% Fibonacci retracement level
1st Support:
1,708.53
61.8% Fibonacci retracement level
1st Resistance:
1,756.13
50% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap 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.