XAUUSD approaching support, potential rise!
XAUDUSD is approaching our major support at 1322.59 (61.8%, 100% Fibonacci extension, horizontal swing low support). A strong bounce might occur at this level pushing price up to our major resistance at 1332.31 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is also approaching our major support at 6%, in line with the potential downside before price reaches our first support. A bounce off this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (34,5,3) is also approaching our major support at 6%, in line with the potential downside before price reaches our first support. A bounce off this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
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