XAUUSD approaching resistance, potential drop!
Price is facing bearish pressure from our first resistance at 1295.48 (short term descending line, 50%, 61.8% Fibonacci retracement, Horizontal overlap resistance, 61.8% Fibonacci extension) where we can expect a further drop to our major support level at 1278.19 (61.8% Fibonacci retracement, Horizontal overlap support).
Stochastic is also approaching resistance.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic is also approaching resistance.
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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