XAUUSD approaching support, potential bounce!
XAUUSD is approaching our first support at 1296.54 (horizontal pullback support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur pushing price up to our major resistance at 1314.02 (horizontal swing high resistance, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
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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