XAUUSD is testing our Pivot, potential for a bullish breakout.
Description
Price is currently testing our Pivot point at 1731.29 which is in line with our 78.6% and 78.6% Fibonacci retracement. We could potentially see price show a bullish breakout and rise from our Pivot point towards our 1st Resistance level at 1765.37, which is in line with 61.8%, -27%, 127%, 161.8% fibonacci retracement, descending trendline resistance and horizontal graphical overlap.
Pivot: 1731.29
Why we like it:
78.6% and 78.6% Fibonacci retracement
1st Support: 1702.65
Why we like it:
127%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support.
1st Resistance: 1765.37
Why we like it:
61.8%, -27%, 127%, 161.8% fibonacci retracement, descending trendline resistance and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is currently testing our Pivot point at 1731.29 which is in line with our 78.6% and 78.6% Fibonacci retracement. We could potentially see price show a bullish breakout and rise from our Pivot point towards our 1st Resistance level at 1765.37, which is in line with 61.8%, -27%, 127%, 161.8% fibonacci retracement, descending trendline resistance and horizontal graphical overlap.
Pivot: 1731.29
Why we like it:
78.6% and 78.6% Fibonacci retracement
1st Support: 1702.65
Why we like it:
127%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support.
1st Resistance: 1765.37
Why we like it:
61.8%, -27%, 127%, 161.8% fibonacci retracement, descending trendline resistance and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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