XAUUSD approaching support, potential rise!
XAUUSD is approaching our first support at 1285.64 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). A strong reaction might occur above this level, pushing price up to our major resistance at 1302.42 (horizontal pullback resistance, 23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also seeing a bullish divergence and is approaching support where a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
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Stochastic (89,5,3) is also seeing a bullish divergence and is approaching support where a bounce off this level might see a corresponding rise 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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