XAUUSD testing our Pivot point, potential for a bullish breakout
Description
Price is testing our Pivot point at 1874.72 which is in line with our 38.2%, 50% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a bullish breakout from our Pivot point towards our 1st resistance level at 1905.15, which is in line with 61.8%, 78.6% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap. It is worth noting that MACD is above the 0 line, showing bullish pressure.
Pivot: 1874.72
Why we like it:
38.2%, 50% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1852.90
Why we like it:
23.8%, 50% fibonacci retracement and horizontal graphical support.
1st Resistance: 1905.15
Why we like it:
61.8%, 78.6% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1874.72 which is in line with our 38.2%, 50% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a bullish breakout from our Pivot point towards our 1st resistance level at 1905.15, which is in line with 61.8%, 78.6% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap. It is worth noting that MACD is above the 0 line, showing bullish pressure.
Pivot: 1874.72
Why we like it:
38.2%, 50% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1852.90
Why we like it:
23.8%, 50% fibonacci retracement and horizontal graphical support.
1st Resistance: 1905.15
Why we like it:
61.8%, 78.6% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.