XAUUSD approaching support, potential bounce!
XAUUSD is approaching our first support at 1193.85 (horizontal overlap support, 61.8%, 100% Fibonacci extension, 50%, 61.8% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1200.25 (horizontal swing high resistance, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off 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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