XAUUSD testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot point at 1895.97 which is in line with our 78.6% Fibonacci retracement, 50%, 78.6% Fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1908.10, which is in line with 78.6% Fibonacci extension and 127% fibonacci retracement. It is worth noting that price is trending above the Ichimoku cloud and Ascending trendline support, in line with our bullish analysis.
Pivot: 1895.97
Why we like it:
78.6% Fibonacci retracement, 50%, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 1887.29
Why we like it:
50%, 61.8% Fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1908.10
Why we like it:
127% Fibonacci extension, 78.6% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1895.97 which is in line with our 78.6% Fibonacci retracement, 50%, 78.6% Fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1908.10, which is in line with 78.6% Fibonacci extension and 127% fibonacci retracement. It is worth noting that price is trending above the Ichimoku cloud and Ascending trendline support, in line with our bullish analysis.
Pivot: 1895.97
Why we like it:
78.6% Fibonacci retracement, 50%, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 1887.29
Why we like it:
50%, 61.8% Fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1908.10
Why we like it:
127% Fibonacci extension, 78.6% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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