#XAUUSD, H4 is approaching our Pivot, potential for a rise.
Price is approaching pivot level of 1813.39, which is in line with 61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap support. A reversal from this level may see price take resistance at price 1844.72. This level coincides with 61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap resistance. Finally, we can expect price to take support at 1791.23, 127.2% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal overlap support. This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1,813.390
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap support
1st Support:
1,791.230
127.2% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal overlap support
1st Resistance:
1,844.720
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
1,813.390
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap support
1st Support:
1,791.230
127.2% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal overlap support
1st Resistance:
1,844.720
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap resistance
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.