#XAUUSD is at pivot, potential for drop!
Price is at pivot level around 1,764.00 which is in line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA. The price could potentially drop to support at 1,720.30, in-line with 100% Fibonacci retracement level, 161.8% Fibonacci extension level and swing low support. RSI is also at descending trendline resistance for potential drop
Alternatively, price may swing towards resistance at 1,788.00, in-line with 50% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA.
Pivot:
1,764.00
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA
1st Support:
1,720.30
100% Fibonacci retracement level, 161.8% Fibonacci extension level and swing low support
1st Resistance:
1,788.00
50% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA
Trading FX & CFDs carries high risk
Alternatively, price may swing towards resistance at 1,788.00, in-line with 50% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA.
Pivot:
1,764.00
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA
1st Support:
1,720.30
100% Fibonacci retracement level, 161.8% Fibonacci extension level and swing low support
1st Resistance:
1,788.00
50% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA
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.