XAUUSD bounced from our Pivot, potential for a rise.
Description
Price is breaking above our Pivot point at 1826.52, which is in line with 50% fibonacci retracement , 61.8% fibonacci extension and ichimoku cloud support. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1855.49, which is in line with 127% fibonacci retracement and 61.8% fibonacci extension . Its 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: 1826.52
Why we like it:
50% fibonacci retracement , 61.8% fibonacci extension and ichimoku cloud support
1st Support: 1808.87
Why we like it:
50% fibonacci retracement , 127% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1855.49
Why we like it:
127% fibonacci retracement and 61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Price is breaking above our Pivot point at 1826.52, which is in line with 50% fibonacci retracement , 61.8% fibonacci extension and ichimoku cloud support. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1855.49, which is in line with 127% fibonacci retracement and 61.8% fibonacci extension . Its 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: 1826.52
Why we like it:
50% fibonacci retracement , 61.8% fibonacci extension and ichimoku cloud support
1st Support: 1808.87
Why we like it:
50% fibonacci retracement , 127% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1855.49
Why we like it:
127% fibonacci retracement and 61.8% 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.