XAUUSD bounced from our Pivot point, potential for a rise.
Description
Price has bounced from our Pivot point at 1835.13 which is in line with our 61.8%, 88% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1854.17, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and descending trendline resistance. It is worth noting that price is within a squeezing triangle by trending above and below opposite trendlines.
Pivot: 1835.13
Why we like it:
61.8%, 88% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 1824.38
Why we like it:
78.6% fibonacci retracement, 100%fibonacci extension and horizontal swing low.
1st Resistance: 1854.17
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot point at 1835.13 which is in line with our 61.8%, 88% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1854.17, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and descending trendline resistance. It is worth noting that price is within a squeezing triangle by trending above and below opposite trendlines.
Pivot: 1835.13
Why we like it:
61.8%, 88% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 1824.38
Why we like it:
78.6% fibonacci retracement, 100%fibonacci extension and horizontal swing low.
1st Resistance: 1854.17
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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