#XAUUSD bounced from our Pivot point, potential for a rise.
Price is approaching pivot level of 1807.0., which is in line with 61.8% Fibonacci retracement level, 50.0% Fibonacci extension level & horizontal overlap support. A reversal from this level may see price take resistance at price 1835.09. This level coincides with -27.2%Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 1790.2178.6% Fibonacci extension level & horizontal overlap support . This is further supported by how price is now holding above the EMA .
Pivot:
1807.0.
Why we like it:
61.8% Fibonacci retracement level, 50.0% Fibonacci extension level & horizontal overlap support
1st Support:
1,790.210
78.6% Fibonacci extension level & horizontal overlap support
1st Resistance:
1,835.090
-27.2%Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1807.0.
Why we like it:
61.8% Fibonacci retracement level, 50.0% Fibonacci extension level & horizontal overlap support
1st Support:
1,790.210
78.6% Fibonacci extension level & horizontal overlap support
1st Resistance:
1,835.090
-27.2%Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
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