#XAUUSD is at trendline resistance, potential for a pullback
Price is reaction insde our pivot level at 1,816.07 which is in line with -27.2% Fibonacci retracement level, 61.8% Fibonacci extension level and trendline resistance. Price could potentially drop towards support at 1,800 which is in-line with 23.6% Fibonacci retracement level, 78.6% Fibonacci extension level and ascending trendline support. RSI is also at resistance level where previous drops occurred.
Alternatively, price may swing towards our resistance at 1,838, which coincides with -61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
1,816.07
Why we like it:
-27.2% Fibonacci retracement level, 61.8% Fibonacci extension level and descending trendline resistance
1st Support:
1,800
23.6% Fibonacci retracement level, 78.6% Fibonacci extension level and ascending trendline support
1st Resistance:
1,838
-61.8% Fibonacci retracement level and 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk
Alternatively, price may swing towards our resistance at 1,838, which coincides with -61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
1,816.07
Why we like it:
-27.2% Fibonacci retracement level, 61.8% Fibonacci extension level and descending trendline resistance
1st Support:
1,800
23.6% Fibonacci retracement level, 78.6% Fibonacci extension level and ascending trendline support
1st Resistance:
1,838
-61.8% Fibonacci retracement level and 78.6% Fibonacci extension level
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.