XAUUSD approaching support, potential bounce!
XAUUSD is approaching our first support at 1212.15 (horizontal pullback support, 100% Fibonacci extension, 38.2%, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1240.00 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price should it bounce above this level.
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 and we might see a corresponding rise in price should it bounce above this level.
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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