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XAUUSD testing resistance, potential drop!

Por ICmarkets
Corretora
XAUUSD is approaching its resistance at 1303.25 (horizontal pullback resistance, 23.6%, 50% Fibonacci retracement, 100% Fibonacci extension, short term descending resistance line) and we expect price to drop to its major support at 1281.70 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic (34,5,3) is also approaching its resistance where we might see a corresponding fall in price.
Chart PatternsForexforexsignalsforextradingHarmonic PatternsTrend AnalysisUSDXAUXAUUSDxauusdlongxauusdshort
ICmarkets
Corretora
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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