XAUUSD, H4 is approaching our Pivot point, potential bounce.
Price is approaching our support level in line with our graphical pullback support and 23.6% fibonacci retracement where we could see a bounce above this level to our resistance target. Ichimoku cloud is showing signs of bullish pressure, in line with our bullish bias.
Pivot: 1729.92
Why we like it:
graphical pullback support and 23.6% fibonacci retracement
1st Support: 1705.14
Why we like it:
61.8% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1761.62
Why we like it:
Graphical pullback resistance and 61.8% fibonacci retracement
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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.