XAUUSD, H4 is testing our Pivot, potential for a drop.
Description
Price is testing our Pivot point at 1684.19 which is in line with our fibonacci confluence and horizontal graphical overlap. We could potentially see a drop from our Pivot point towards our 1st support level at 1664.29 which is in line with 161.8% fibonacci retracement and 161.8% fibonacci extension. It's noteworthy that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our bearish analysis.
Pivot: 1684.19
Why we like it:
127% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1664.29
Why we like it:
161.8% fibonacci retracement and 161.8% fibonacci extension
1st Resistance: 1701.96
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1684.19 which is in line with our fibonacci confluence and horizontal graphical overlap. We could potentially see a drop from our Pivot point towards our 1st support level at 1664.29 which is in line with 161.8% fibonacci retracement and 161.8% fibonacci extension. It's noteworthy that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our bearish analysis.
Pivot: 1684.19
Why we like it:
127% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1664.29
Why we like it:
161.8% fibonacci retracement and 161.8% fibonacci extension
1st Resistance: 1701.96
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
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.