#XAUUSD approaching pivot, potential for a reversal!
Price is approaching pivot level of 1827.54 where we have 61.8% Fibonacci extension level, 23.6% Fibonacci retracement level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 1810.65, which is in line with 38.2% Fibonacci retracement level, 50.0% Fibonacci extension level & horizontal overlap resistance. Finally, price is unlikely to surpass our strong resistance at 1834.35, which coincides with & horizontal swing high resistance . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1,827.54
Why we like it:
61.8% Fibonacci extension level, 23.6% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1,810.650
Why we like it:
38.2% Fibonacci retracement level, 50.0% Fibonacci extension level & horizontal overlap resistance
1st Resistance:
1,834.350
Why we like it:
& horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1,827.54
Why we like it:
61.8% Fibonacci extension level, 23.6% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1,810.650
Why we like it:
38.2% Fibonacci retracement level, 50.0% Fibonacci extension level & horizontal overlap resistance
1st Resistance:
1,834.350
Why we like it:
& horizontal swing high 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.