XAUUSD approaching our Pivot point, potential for a bounce.
Description
Price is approaching our Pivot point at 1835.13 which is in line with our -61.8%, 61.8% Fibonacci retracement, 78.6%, 88% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1853.89, which is in line with 50% fibonacci retracement, 61.8% fibonacci extension and descending trendline resistance.
Pivot: 1835.13
Why we like it:
-61.8%, 61.8% Fibonacci retracement, 78.6%, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1821.90
Why we like it:
88%, 127% fibonacci retracement, 100%, 127% fibonacci extension and swing low support.
1st Resistance: 1853.89
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and descending trendline resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1835.13 which is in line with our -61.8%, 61.8% Fibonacci retracement, 78.6%, 88% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1853.89, which is in line with 50% fibonacci retracement, 61.8% fibonacci extension and descending trendline resistance.
Pivot: 1835.13
Why we like it:
-61.8%, 61.8% Fibonacci retracement, 78.6%, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1821.90
Why we like it:
88%, 127% fibonacci retracement, 100%, 127% fibonacci extension and swing low support.
1st Resistance: 1853.89
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and descending trendline resistance.
Trading FX & CFDs carries high risk.
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