#XAUUSD, H4 is approaching our Pivot, potential for a rise.
Description
Price is above our Pivot point at 1889.16, which is in line with 61.8%, 88%, 78.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. We could potentially see a bounce from our Pivot point towards our 1st resistance level at 1912.88, which is in line with -27% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high. It's worth noting that price is above the Ichimoku cloud support and descending trendline resistance turned-support, in line with our bullish analysis.
Pivot: 1889.16
Why we like it:
61.8%, 88%, 78.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1875.50
Why we like it:
61.8% fibonacci retracement, 200% fibonacci extension and horizontal swing low.
1st Resistance: 1912.77
Why we like it:
61.8% fibonacci extension, -27% fibonacci retracement and horizontal swing high
Trading FX & CFDs carries high risk.
Price is above our Pivot point at 1889.16, which is in line with 61.8%, 88%, 78.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. We could potentially see a bounce from our Pivot point towards our 1st resistance level at 1912.88, which is in line with -27% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high. It's worth noting that price is above the Ichimoku cloud support and descending trendline resistance turned-support, in line with our bullish analysis.
Pivot: 1889.16
Why we like it:
61.8%, 88%, 78.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1875.50
Why we like it:
61.8% fibonacci retracement, 200% fibonacci extension and horizontal swing low.
1st Resistance: 1912.77
Why we like it:
61.8% fibonacci extension, -27% fibonacci retracement and horizontal swing high
Trading FX & CFDs carries high risk.
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