XAUUSD is facing bullish pressure, potential for a bounce. for SAXO:XAUUSD by M4Academy — TradingView


Description:
Price is approaching our pivot , which is in line with our graphical swing low support, 100% Fibonacci extension and 61.8% Fibonacci retracement . We see a medium probability bullish scenario above our pivot at 1834.62, with 1st resistance at 1863.72 as a possible target. Failure to hold above pivot would see price swing the other way towards 1st support at 1817.38.

Pivot: 1834.62

Supporting Points:

100% Fibonacci extension , 61.8% Fibonacci retracement and graphical swing low support

1st Support: 1817.38

Supporting Points:

161.8% Fibonacci extension and graphical swing low support

1st Resistance: 1863.72

Supporting Points:

127.2% Fibonacci extension and graphical swing high resistance

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