XAUUSD bouncing from our Pivot point, potential for a rise.
Description
Price is bouncing from our Pivot point at 1929.93 which is in line with our 23.8%, 23.8% and -27% Fibonacci retracement. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1969.79, which is in line with -27%, -27% and -68% fibonacci retracement. It is worth noting that price is trending above the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1929.93
Why we like it:
23.8%, 23.8% and -27% Fibonacci retracement
1st Support: 1902
Why we like it:
-27%, -27% and -68% fibonacci retracement
1st Resistance: 1969.79
Why we like it:
50%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1929.93 which is in line with our 23.8%, 23.8% and -27% Fibonacci retracement. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1969.79, which is in line with -27%, -27% and -68% fibonacci retracement. It is worth noting that price is trending above the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1929.93
Why we like it:
23.8%, 23.8% and -27% Fibonacci retracement
1st Support: 1902
Why we like it:
-27%, -27% and -68% fibonacci retracement
1st Resistance: 1969.79
Why we like it:
50%, 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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