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XAUUSD approaching support, potential bounce!
XAUUSD is approaching our first support at 1248.13 (horizontal overlap support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1265.29 (horizontal overlap resistance 61.8% Fibonacci extension, 38.2%, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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