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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.