XAUUSD approaching support, potential bounce!
XAUUSD is approaching our first support at 1218.62 (Horizontal swing low support, 100% Fibonacci extension, 76.4% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1238.35 (horizontal pullback resistance, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,5,3) is also approaching support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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