XAUUSD, H4 is bouncing from our Pivot, potential for a rise.
Description
Price is bouncing from our Pivot point at 1778.24, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1797.70 which is in line with 78.6% fibonacci extension and swing high resistance. Do note that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1778.24
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1765.21
Why we like it:
100% fibonacci extension and swing low support
1st Resistance: 1797.70
Why we like it:
78.6% fibonacci extension and swing high resistance
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1778.24, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1797.70 which is in line with 78.6% fibonacci extension and swing high resistance. Do note that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1778.24
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1765.21
Why we like it:
100% fibonacci extension and swing low support
1st Resistance: 1797.70
Why we like it:
78.6% fibonacci extension and swing high 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.