XAUUSD, H4 is breaking above our Pivot, potential for a rise.
Description
Price is breaking above our Pivot point at 1816.64, which is in line with 161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1835.12 which is in line with 61.8% fibonacci extension. Do note that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1816.64
Why we like it:
161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1797.19
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1835.12
Why we like it:
61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Price is breaking above our Pivot point at 1816.64, which is in line with 161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1835.12 which is in line with 61.8% fibonacci extension. Do note that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1816.64
Why we like it:
161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1797.19
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1835.12
Why we like it:
61.8% fibonacci extension
Trading FX & CFDs carries high risk.
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