#XAUUSD is at pivot, potential for drop!
Price is at pivot level around 1,764.00 which is in line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA. The price could potentially drop to support at 1,720.30, in-line with 100% Fibonacci retracement level, 161.8% Fibonacci extension level and swing low support. RSI is also at descending trendline resistance for potential drop
Alternatively, price may swing towards resistance at 1,788.00, in-line with 50% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA.
Pivot:
1,764.00
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA
1st Support:
1,720.30
100% Fibonacci retracement level, 161.8% Fibonacci extension level and swing low support
1st Resistance:
1,788.00
50% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA
Trading FX & CFDs carries high risk
Alternatively, price may swing towards resistance at 1,788.00, in-line with 50% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA.
Pivot:
1,764.00
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA
1st Support:
1,720.30
100% Fibonacci retracement level, 161.8% Fibonacci extension level and swing low support
1st Resistance:
1,788.00
50% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA
Trading FX & CFDs carries high risk
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