#XAUUSD, H4 is bounced from our Pivot, potential for a rise.
Description
Price is above our Pivot point at 1867.56, which is in line with 61.8%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1900.77, which is in line with -27% and 127% fibonacci retracement. It's worth noting that price is above the ascending trendline and Ichimoku cloud support, in line with our bullish analysis.
Pivot: 1867.56
Why we like it:
61.8%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1853.62
Why we like it:
100%, 161.8% fibonacci extension and horizontal swing low.
1st Resistance: 1900.77
Why we like it:
-27% and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is above our Pivot point at 1867.56, which is in line with 61.8%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1900.77, which is in line with -27% and 127% fibonacci retracement. It's worth noting that price is above the ascending trendline and Ichimoku cloud support, in line with our bullish analysis.
Pivot: 1867.56
Why we like it:
61.8%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1853.62
Why we like it:
100%, 161.8% fibonacci extension and horizontal swing low.
1st Resistance: 1900.77
Why we like it:
-27% and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
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