XAUUSD approaching our Pivot point, potential for a bounce.
Description
Price is approaching our Pivot point at 1812.27 which is in line with our 78.6% Fibonacci retracement, 50%, 127% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1843.62, which is in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. It is worth noting that Stochastics is also showing bullish pressure where price has reacted off the 9% level.
Pivot: 1812.27
Why we like it:
78.6% Fibonacci retracement, 50%, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1772.94
Why we like it:
-61.8% fibonacci retracement, 100% and 161.8%fibonacci extension
1st Resistance: 1843.62
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1812.27 which is in line with our 78.6% Fibonacci retracement, 50%, 127% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1843.62, which is in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. It is worth noting that Stochastics is also showing bullish pressure where price has reacted off the 9% level.
Pivot: 1812.27
Why we like it:
78.6% Fibonacci retracement, 50%, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1772.94
Why we like it:
-61.8% fibonacci retracement, 100% and 161.8%fibonacci extension
1st Resistance: 1843.62
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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