#XAUUSD, H4 is bouncing from our Pivot, potential for a rise.
Description
Price is bouncing from our Pivot point at 1775.20 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 1802.07, which is in line with 38.2% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. It's worth noting that price is under the ichimoku cloud and may be making a short-term pull back towards the cloud resistance.
Pivot: 1775.20
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1763.06
Why we like it:
88.6% fibonacci extension and horizontal swing low
1st Resistance: 1802.07
Why we like it:
38.2% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1775.20 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 1802.07, which is in line with 38.2% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. It's worth noting that price is under the ichimoku cloud and may be making a short-term pull back towards the cloud resistance.
Pivot: 1775.20
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1763.06
Why we like it:
88.6% fibonacci extension and horizontal swing low
1st Resistance: 1802.07
Why we like it:
38.2% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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