XAUUSD has reversed from our Pivot point, potential for a furth
Description
Price has reversed from our Pivot point at 1807.16, which is in line with our 78.6% Fibonacci retracement, 61.8%, 127% fibonacci extension, and descending trendline resistance. We could potentially see price drop from our Pivot point towards our 1st support level at 1775.42, which is in line with a fibonacci confluence. Its noteworthy price is trending under the descending trendline, in line with our bearish analysis.
Pivot: 1807.16
Why we like it:
78.6% Fibonacci retracement, 61.8%, 127% fibonacci extension, and descending trendline resistance.
1st Support: 1775.42
Why we like it:
78.6%, -27% fibonacci retracement, 100% fibonacci extension and Horizontal graphical swing low support
1st Resistance: 1822.65
Why we like it:
127%, -27%, -68% fibonacci retracement, 100%, 200% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1807.16, which is in line with our 78.6% Fibonacci retracement, 61.8%, 127% fibonacci extension, and descending trendline resistance. We could potentially see price drop from our Pivot point towards our 1st support level at 1775.42, which is in line with a fibonacci confluence. Its noteworthy price is trending under the descending trendline, in line with our bearish analysis.
Pivot: 1807.16
Why we like it:
78.6% Fibonacci retracement, 61.8%, 127% fibonacci extension, and descending trendline resistance.
1st Support: 1775.42
Why we like it:
78.6%, -27% fibonacci retracement, 100% fibonacci extension and Horizontal graphical swing low support
1st Resistance: 1822.65
Why we like it:
127%, -27%, -68% fibonacci retracement, 100%, 200% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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