XAUUSD is above our Pivot point, potential for a rise
Description
Price is above our Pivot point at 1720.72 which is in line with our 50% Fibonacci retracement, 78.6% fibonacci extension, and horizontal graphical resistance. We could potentially see price rise from our Pivot point towards our 1st Resistance level at 1751.64, which is in line with a fibonacci confluence. Its noteworthy price is above the moving average, in line with our bullish analysis.
Pivot: 1720.72
Why we like it:
50% Fibonacci retracement, 78.6% fibonacci extension, and horizontal graphical overlap.
1st Support: 1705.15
Why we like it:
38.2% fibonacci retracement, 50% fibonacci extension and horizontal swing low support.
1st Resistance: 1751.64
Why we like it:
-68%, 88% fibonacci retracement, 100%, 127% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is above our Pivot point at 1720.72 which is in line with our 50% Fibonacci retracement, 78.6% fibonacci extension, and horizontal graphical resistance. We could potentially see price rise from our Pivot point towards our 1st Resistance level at 1751.64, which is in line with a fibonacci confluence. Its noteworthy price is above the moving average, in line with our bullish analysis.
Pivot: 1720.72
Why we like it:
50% Fibonacci retracement, 78.6% fibonacci extension, and horizontal graphical overlap.
1st Support: 1705.15
Why we like it:
38.2% fibonacci retracement, 50% fibonacci extension and horizontal swing low support.
1st Resistance: 1751.64
Why we like it:
-68%, 88% fibonacci retracement, 100%, 127% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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