#XAUUSD, H4 is approaching our Pivot, potential for a rise.
Description
Price is above our Pivot point at 1890.19, which is in line with 61.8%, 78.6% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap. We could potentially see a bounce from our Pivot point towards our 1st resistance level at 1911.17, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high. It's worth noting that price is above the Ichimoku cloud support and ascending trendline support, in line with our bullish analysis.
Pivot: 1890.19
Why we like it:
61.8%, 78.6% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap
1st Support: 1878.23
Why we like it:
88.6% fibonacci retracement, 127% fibonacci extension and horizontal swing low.
1st Resistance: 1911.17
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
Price is above our Pivot point at 1890.19, which is in line with 61.8%, 78.6% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap. We could potentially see a bounce from our Pivot point towards our 1st resistance level at 1911.17, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high. It's worth noting that price is above the Ichimoku cloud support and ascending trendline support, in line with our bullish analysis.
Pivot: 1890.19
Why we like it:
61.8%, 78.6% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap
1st Support: 1878.23
Why we like it:
88.6% fibonacci retracement, 127% fibonacci extension and horizontal swing low.
1st Resistance: 1911.17
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
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