XAUUSD testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot point at 1875.95 which is in line with our 38.2% Fibonacci retracement, 61.8%, 61.8% Fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1896.50, which is in line with 127%, 127% Fibonacci extension, 78.6% fibonacci retracement and horizontal swing high resistance. It is worth noting that price is trending above the Ichimoku cloud and Ascending trendline support, in line with our bullish analysis.
Pivot: 1875.95
Why we like it:
38.2% Fibonacci retracement, 61.8%, 61.8% Fibonacci extension and horizontal graphical overlap
1st Support: 1854.93
Why we like it:
61.8% Fibonacci extension and horizontal swing low support.
1st Resistance: 1896.50
Why we like it:
127%, 127% Fibonacci extension, 78.6% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1875.95 which is in line with our 38.2% Fibonacci retracement, 61.8%, 61.8% Fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1896.50, which is in line with 127%, 127% Fibonacci extension, 78.6% fibonacci retracement and horizontal swing high resistance. It is worth noting that price is trending above the Ichimoku cloud and Ascending trendline support, in line with our bullish analysis.
Pivot: 1875.95
Why we like it:
38.2% Fibonacci retracement, 61.8%, 61.8% Fibonacci extension and horizontal graphical overlap
1st Support: 1854.93
Why we like it:
61.8% Fibonacci extension and horizontal swing low support.
1st Resistance: 1896.50
Why we like it:
127%, 127% Fibonacci extension, 78.6% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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