#XAUUSD, H4 is approaching our Pivot, potential for a bounce.
Description
Price is approaching our Pivot point at 1890.15, which is in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see a bounce from our Pivot point towards our 1st resistance level at 1909.58, which is in line with -27% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical swing high. It's worth noting that price is above the moving average, in line with our bullish analysis.
Pivot: 1890.15
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1875.66
Why we like it:
61.8%, 127% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1909.58
Why we like it:
-27% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1890.15, which is in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see a bounce from our Pivot point towards our 1st resistance level at 1909.58, which is in line with -27% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical swing high. It's worth noting that price is above the moving average, in line with our bullish analysis.
Pivot: 1890.15
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1875.66
Why we like it:
61.8%, 127% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1909.58
Why we like it:
-27% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
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