FX.co ★ XAUUSD is facing bullish pressure, potential for further upside!

Price is currently facing bullish pressure as it holds above our moving average support, in line with our bullish bias. We could potentially see price bounce at 1st support, in line with 61.8% Fibonacci retracement, 161.8% Fibonacci extension and horizontal pullback support, and further upside towards 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance..

Trading Recommendation

Entry: 1887.11

Reason for Entry:

61.8% Fibonacci retracement, 161.8% Fibonacci extension and horizontal pullback support

Take Profit: 1912.80

Reason for Take Profit:

61.8% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1872.76

Reason for Stop Loss:

Horizontal swing low support