XAUUSD bouncing from our Pivot point, potential for a rise.
Description
Price is bouncing from our Pivot point at 1914.83 which is in line with our 23.8%, 61.8% Fibonacci retracement and 88% fibonacci extension. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1947, which is in line with 78.6% fibonacci retracement and 61.8% fibonacci extension. It is worth noting that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis. Lastly, Stochastics is also showing a trend above the ascending support line.
Pivot: 1914.83
Why we like it:
23.8%, 61.8% Fibonacci retracement and 88% fibonacci extension
1st Support: 1903.67
Why we like it:
78.6% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1947
Why we like it:
78.6% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1914.83 which is in line with our 23.8%, 61.8% Fibonacci retracement and 88% fibonacci extension. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1947, which is in line with 78.6% fibonacci retracement and 61.8% fibonacci extension. It is worth noting that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis. Lastly, Stochastics is also showing a trend above the ascending support line.
Pivot: 1914.83
Why we like it:
23.8%, 61.8% Fibonacci retracement and 88% fibonacci extension
1st Support: 1903.67
Why we like it:
78.6% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1947
Why we like it:
78.6% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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