#XAUUSD approaching pivot, potential for a pullback
Price is approaching our pivot level at 1,786.65 which is in line with -61.8% Fibonacci retracement level , 127.2% Fibonacci extension level and horizontal overlap resistance. Price could potentially pull-back towards support at 1,761.94, in line with 23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA
Alternatively, price may bounces to our resistance at 1,799.08, which coincides with -27.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 200MA
Pivot:
1,786.65
Why we like it:
-61.8% Fibonacci retracement level , 127.2% Fibonacci extension level and horizontal overlap resistance
1st Support:
1,761.94
23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA
1st Resistance:
1,799.08
-27.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 200MA
Trading FX & CFDs carries high risk
Alternatively, price may bounces to our resistance at 1,799.08, which coincides with -27.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 200MA
Pivot:
1,786.65
Why we like it:
-61.8% Fibonacci retracement level , 127.2% Fibonacci extension level and horizontal overlap resistance
1st Support:
1,761.94
23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA
1st Resistance:
1,799.08
-27.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 200MA
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.