XAUUSD approaching support, potential bounce!
XAUUSD is approaching our first support at 1310.48 (horizontal overlap support, 50% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 3125.87 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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