XAUUSD, H4 is bounced from our Pivot, potential for a rise.
Description
Price is above our Pivot point at 1840.42, which is in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1899.33, which is in line with 241% fibonacci retracement and 100% fibonacci extension. It's worth noting that price is above the ascending trendline and Ichimoku cloud support, MACD is also above the 0 line, all indicators are in line with our bullish analysis.
Pivot: 1840.42
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 1808.87
Why we like it:
161.8% fibonacci extension and horizontal swing low.
1st Resistance: 1899.33
Why we like it:
241% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Price is above our Pivot point at 1840.42, which is in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1899.33, which is in line with 241% fibonacci retracement and 100% fibonacci extension. It's worth noting that price is above the ascending trendline and Ichimoku cloud support, MACD is also above the 0 line, all indicators are in line with our bullish analysis.
Pivot: 1840.42
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 1808.87
Why we like it:
161.8% fibonacci extension and horizontal swing low.
1st Resistance: 1899.33
Why we like it:
241% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
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