XAUUSD, H4 is testing our Pivot point, potential for a rise.
Description
Price is currently testing our Pivot point at 1874.30 which is in line with our 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap. If price breaks the pivot area, we could potentially see price rise towards our 1st resistance level at 1935.41, which is in line with 127.2% and 127.2% Fibonacci retracement. It is worth noting that price is above the Ichimoku cloud and MACD is above the 0 line, which are showing bullish momentum in line with our analysis.
Pivot: 1874.30
Why we like it:
50% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap
1st Support: 1831.8
Why we like it:
50% Fibonacci retracement and Horizontal graphical level
1st Resistance: 1935.41
Why we like it:
61.8% Fibonacci retracement and Horizontal graphical level
Trading FX & CFDs carries high risk.
Price is currently testing our Pivot point at 1874.30 which is in line with our 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap. If price breaks the pivot area, we could potentially see price rise towards our 1st resistance level at 1935.41, which is in line with 127.2% and 127.2% Fibonacci retracement. It is worth noting that price is above the Ichimoku cloud and MACD is above the 0 line, which are showing bullish momentum in line with our analysis.
Pivot: 1874.30
Why we like it:
50% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap
1st Support: 1831.8
Why we like it:
50% Fibonacci retracement and Horizontal graphical level
1st Resistance: 1935.41
Why we like it:
61.8% Fibonacci retracement and Horizontal graphical level
Trading FX & CFDs carries high risk.
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