Gold prices are consolidating near $1,780 after rebounding from our 61.8% Fibonacci extension support. First target could be $1,790. We could potentially see a bullish momentum to our first resistance level at 1,809 in-line with our 161.8% Fibonacci extension, 50% Fibonacci retracement .
If XAUUSD fails to hold current level, the first support will be at 1,751.70, in-line with our 78.6% Fibonacci extension and -27.2% Fibonacci retracement.
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If XAUUSD fails to hold current level, the first support will be at 1,751.70, in-line with our 78.6% Fibonacci extension and -27.2% Fibonacci retracement.
Like and comment if you like this trading idea. Thank you!
Note
Gold target reached successfully. Hope you enjoyed this trading idea!
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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.