XAUUSD testing our Pivot point, potential for a bullish breakout
Description
Price is testing our Pivot point at 1874.72 which is in line with our 38.2%, 50% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a bullish breakout from our Pivot point towards our 1st resistance level at 1905.15, which is in line with 61.8%, 78.6% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap. It is worth noting that MACD is above the 0 line, showing bullish pressure.
Pivot: 1874.72
Why we like it:
38.2%, 50% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1852.90
Why we like it:
23.8%, 50% fibonacci retracement and horizontal graphical support.
1st Resistance: 1905.15
Why we like it:
61.8%, 78.6% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1874.72 which is in line with our 38.2%, 50% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a bullish breakout from our Pivot point towards our 1st resistance level at 1905.15, which is in line with 61.8%, 78.6% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap. It is worth noting that MACD is above the 0 line, showing bullish pressure.
Pivot: 1874.72
Why we like it:
38.2%, 50% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1852.90
Why we like it:
23.8%, 50% fibonacci retracement and horizontal graphical support.
1st Resistance: 1905.15
Why we like it:
61.8%, 78.6% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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