#XAUUSD, H4 approaching Pivot, potential for a bounce!
Price is approaching pivot level of 1821.72, which is in line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap support. A reversal from this level may see price take resistance at price 1844.94. This level coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance. Finally, we can expect price to take support at 1805.6561.8% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support . This is further supported by how price is holding below the EMA
Pivot:
1,821.72
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap support
1st Support:
1,805.650
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1,844.940
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
1,821.72
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap support
1st Support:
1,805.650
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1,844.940
61.8% Fibonacci retracement level, 61.8% 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.