#XAUUSD, H4 is approaching our Pivot, potential for a rise.
Price is approaching pivot level of 1798.59, which is in line with 78.6% Fibonacci retracement level, 50.0% Fibonacci retracement level & horizontal overlap support. A reversal from this level may see price take resistance at price 1856. This level coincides with -27.2%Fibonacci retracement level, 78.6% Fibonacci extension level. Finally, we can expect price to take support at 1763.39161.8% Fibonacci retracement level & horizontal swing low support . This is further supported by how MACD is holding above the 0 line.
Pivot:
1,798.59
Why we like it:
78.6% Fibonacci retracement level, 50.0% Fibonacci retracement level & horizontal overlap support
1st Support:
1,763.390
161.8% Fibonacci retracement level & horizontal swing low support
1st Resistance:
1,856.000
-27.2%Fibonacci retracement level, 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk.
Pivot:
1,798.59
Why we like it:
78.6% Fibonacci retracement level, 50.0% Fibonacci retracement level & horizontal overlap support
1st Support:
1,763.390
161.8% Fibonacci retracement level & horizontal swing low support
1st Resistance:
1,856.000
-27.2%Fibonacci retracement level, 78.6% Fibonacci extension level
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.