logo

FX.co ★ XAU/USD Approaching Resistance, Prepare For Reversal

XAU/USD Approaching Resistance, Prepare For Reversal

XAU/USD is approaching its resistance at 1314.84 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 1309.24 (50% Fibonacci retracement, horizontal swing low support).

Stochastic (89, 5, 3) is nearing its resistance at 97% where a corresponding reversal is anticipated.

XAU/USD is approaching its resistance where we expect to see a reversal.

See also: InstaForex is one of the leaders in the Forex market, 12 years on the market, more than 7,000,000 active clients

Sell below 1314.84. Stop loss at 1317.70. Take profit at 1309.24.

XAU/USD Approaching Resistance, Prepare For Reversal

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account