XAUUSD, H4 has bounced from our Pivot, potential for a rise.
Description
Price is bouncing from our Pivot point at 1776.94 which is in line with 61.8% fibonacci retracement, 78.6% fibonacci extension, ascending trendline and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1808.98 which is in line with -27% fibonacci retracement and 78.6% fibonacci extension. Do note that price is trending above the Ichimoku cloud in line with our bullish analysis.
Pivot: 1776.94
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension, ascending trendline and horizontal graphical overlap
1st Support: 1764.22
Why we like it:
127% fibonacci extension and horizontal swing low support
1st Resistance: 1808.98
Why we like it:
-27% fibonacci retracement and 78.6% fibonacci extension
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1776.94 which is in line with 61.8% fibonacci retracement, 78.6% fibonacci extension, ascending trendline and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1808.98 which is in line with -27% fibonacci retracement and 78.6% fibonacci extension. Do note that price is trending above the Ichimoku cloud in line with our bullish analysis.
Pivot: 1776.94
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension, ascending trendline and horizontal graphical overlap
1st Support: 1764.22
Why we like it:
127% fibonacci extension and horizontal swing low support
1st Resistance: 1808.98
Why we like it:
-27% fibonacci retracement and 78.6% fibonacci extension
Trading FX & CFDs carries high risk.
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