XAUUSD is testing our Pivot, potential for a bullish breakout.
Description
Price is currently testing our Pivot point at 1731.29 which is in line with our 78.6% and 78.6% Fibonacci retracement. We could potentially see price show a bullish breakout and rise from our Pivot point towards our 1st Resistance level at 1765.37, which is in line with 61.8%, -27%, 127%, 161.8% fibonacci retracement, descending trendline resistance and horizontal graphical overlap.
Pivot: 1731.29
Why we like it:
78.6% and 78.6% Fibonacci retracement
1st Support: 1702.65
Why we like it:
127%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support.
1st Resistance: 1765.37
Why we like it:
61.8%, -27%, 127%, 161.8% fibonacci retracement, descending trendline resistance and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is currently testing our Pivot point at 1731.29 which is in line with our 78.6% and 78.6% Fibonacci retracement. We could potentially see price show a bullish breakout and rise from our Pivot point towards our 1st Resistance level at 1765.37, which is in line with 61.8%, -27%, 127%, 161.8% fibonacci retracement, descending trendline resistance and horizontal graphical overlap.
Pivot: 1731.29
Why we like it:
78.6% and 78.6% Fibonacci retracement
1st Support: 1702.65
Why we like it:
127%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support.
1st Resistance: 1765.37
Why we like it:
61.8%, -27%, 127%, 161.8% fibonacci retracement, descending trendline resistance and horizontal graphical overlap
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.