XAUUSD approaching support, potential bounce!
XAUUSD is approaching our first support at 1263.91 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1285.85 (horizontal pullback resistance, 100% Fibonacci extension, 23.6%, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our support and a bounce above this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching our support and a bounce above this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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