XAUUSD reversed from our Pivot point, potential for a drop.
Description
Price has reversed from our Pivot point at 1860.08 which is in line with our 61.8%, 38.2% Fibonacci retracement, moving average resistance and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st support level at 1845.48, which is in line with 88% fibonacci retracement, 78.6% fibonacci extension and ascending trendline support.
Pivot: 1860.08
Why we like it:
61.8%, 38.2% Fibonacci retracement, moving average resistance and horizontal graphical overlap
1st Support: 1845.48
Why we like it:
88% fibonacci retracement, 78.6% fibonacci extension and ascending trendline support.
1st Resistance: 1873.91
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1860.08 which is in line with our 61.8%, 38.2% Fibonacci retracement, moving average resistance and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st support level at 1845.48, which is in line with 88% fibonacci retracement, 78.6% fibonacci extension and ascending trendline support.
Pivot: 1860.08
Why we like it:
61.8%, 38.2% Fibonacci retracement, moving average resistance and horizontal graphical overlap
1st Support: 1845.48
Why we like it:
88% fibonacci retracement, 78.6% fibonacci extension and ascending trendline support.
1st Resistance: 1873.91
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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.