#XAUUSD approaching pivot, potential for rise!
ce has broken above our pivot level at 1787.78 which is in line with 78.6% Fibonacci retracement level & horizontal swing low support . We could potentially see a further rise from here towards 1810.58, which coincides with 61.8% Fibonacci extension level, 23.6% Fibonacci retracement level & horizontal overlap resistance. Finally, we can expect price to take support at 1772.29, which coincides with & horizontal overlap support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
1,787.78
Why we like it:
78.6% Fibonacci retracement level & horizontal swing low support
1st Support:
1,772.290
& horizontal overlap support
1st Resistance:
1,810.580
61.8% Fibonacci extension level, 23.6% Fibonacci retracement level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
1,787.78
Why we like it:
78.6% Fibonacci retracement level & horizontal swing low support
1st Support:
1,772.290
& horizontal overlap support
1st Resistance:
1,810.580
61.8% Fibonacci extension level, 23.6% Fibonacci retracement 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.