XAUUSD, H4 is breaking above our Pivot, potential for a rise.
Description
Price is breaking above our Pivot point at 1816.64, which is in line with 161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1835.12 which is in line with 61.8% fibonacci extension. Do note that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1816.64
Why we like it:
161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1797.19
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1835.12
Why we like it:
61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Price is breaking above our Pivot point at 1816.64, which is in line with 161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1835.12 which is in line with 61.8% fibonacci extension. Do note that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1816.64
Why we like it:
161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1797.19
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1835.12
Why we like it:
61.8% fibonacci extension
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.