#XAUUSD, H4 has bounced from our Pivot, potential for a rise.
Description
Price is above our Pivot point at 1872.45, which is in line with 61.8% fibonacci retracement and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1896.91, which is in line with -27% fibonacci retracement and 88% fibonacci extension. It's worth noting that price is above the Ichimoku cloud support, in line with our bullish analysis.
Pivot: 1872.45
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 1853.52
Why we like it:
100%, 127% fibonacci extension and horizontal swing low.
1st Resistance: 1896.91
Why we like it:
-27% fibonacci retracement and 88% fibonacci extension
Trading FX & CFDs carries high risk.
Price is above our Pivot point at 1872.45, which is in line with 61.8% fibonacci retracement and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1896.91, which is in line with -27% fibonacci retracement and 88% fibonacci extension. It's worth noting that price is above the Ichimoku cloud support, in line with our bullish analysis.
Pivot: 1872.45
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 1853.52
Why we like it:
100%, 127% fibonacci extension and horizontal swing low.
1st Resistance: 1896.91
Why we like it:
-27% fibonacci retracement and 88% fibonacci extension
Trading FX & CFDs carries high risk.
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