XAUUSD is at pivot, potential for further upside
Price has broken above our pivot level at 1782.68 which is in line with 61.8% Fibonacci retracement level & horizontal overlap support . We could potentially see a further rise from here towards 1808.79, which coincides with 100% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap resistance. Finally, we can expect price to take support at 1773.78, which coincides with 23.6% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1,782.68
Why we like it:
61.8% Fibonacci retracement level & horizontal overlap support
1st Support:
1,773.780
Why we like it:
23.6% Fibonacci retracement level horizontal overlap support
1st Resistance:
1,808.790
Why we like it:
100% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
1,782.68
Why we like it:
61.8% Fibonacci retracement level & horizontal overlap support
1st Support:
1,773.780
Why we like it:
23.6% Fibonacci retracement level horizontal overlap support
1st Resistance:
1,808.790
Why we like it:
100% Fibonacci extension level, 61.8% 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.