XAUUSD approaching resistance, potential drop!
Price is approaching our first resistance (horizontal overlap resistance, 50%, 61.8% Fibonacci retracement, short term descending line, 61.8% Fibonacci extension) where we might see a drop to our first support (horizontal overlap support, 61.8% Fibonacci retracement). Stochastic is also approaching resistance where we might see a corresponding drop in price.
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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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Come join us today at : easymarkets.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.