#XAUUSD bounced from our Pivot point, potential for a rise.
Description
Price bounced from our Pivot point at 1852.03 which is in line with our 38.2%, 61.8%, 38.2% and 61.8% Fibonacci retracement. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1888.57, which is in line with 50%, -27%, -27% and 127% fibonacci retracement. It is worth noting that MACD line is above 0, which is in line with our bullish view.
Pivot: 1852.03
Why we like it:
38.2%, 61.8%, 38.2% and 61.8% Fibonacci retracement
1st Support: 1824.15
Why we like it:
78.6% fibonacci retracement, 127% and 127% fibonacci extension
1st Resistance: 1888.57
Why we like it:
50%, -27%, -27% and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
Price bounced from our Pivot point at 1852.03 which is in line with our 38.2%, 61.8%, 38.2% and 61.8% Fibonacci retracement. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1888.57, which is in line with 50%, -27%, -27% and 127% fibonacci retracement. It is worth noting that MACD line is above 0, which is in line with our bullish view.
Pivot: 1852.03
Why we like it:
38.2%, 61.8%, 38.2% and 61.8% Fibonacci retracement
1st Support: 1824.15
Why we like it:
78.6% fibonacci retracement, 127% and 127% fibonacci extension
1st Resistance: 1888.57
Why we like it:
50%, -27%, -27% and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
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