XAUUSD is bouncing from our Pivot point, potential for a rise.
Description
Price is bouncing from our Pivot point at 1873.96 which is in line with our 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical support. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1903.49. It is worth noting that price is trending above the Ichimoku cloud and Ascending trendline support, in line with our bullish analysis.
Pivot: 1873.96
Why we like it:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical support
1st Support: 1856.81
Why we like it:
-61.8%, 88% Fibonacci retracement and horizontal swing low support.
1st Resistance: 1896.50
Why we like it:
50%, 78.6% Fibonacci extension, 127% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1873.96 which is in line with our 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical support. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1903.49. It is worth noting that price is trending above the Ichimoku cloud and Ascending trendline support, in line with our bullish analysis.
Pivot: 1873.96
Why we like it:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical support
1st Support: 1856.81
Why we like it:
-61.8%, 88% Fibonacci retracement and horizontal swing low support.
1st Resistance: 1896.50
Why we like it:
50%, 78.6% Fibonacci extension, 127% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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