FX.co ★ XAUUSD reacting off pivot, potential for further upside!

XAUUSD is currently reacting off horizontal swing low support in line with 161.8% Fibonacci retracement and 127.2% Fibonacci extension . Prices might push up towards horizontal swing high resistance in line with 161.8% Fibonacci extension . If prices push down beyond current support, prices might take support from horizontal swing low support in line with 161.8% Fibonacci retracement and 161.8% Fibonacci extension . MACD is also showing bullish pressure.

Trading Recommendation

Entry: 1857.60

Reason for Entry:

Horizontal swing low support, 161.8% Fibonacci retracement, 127.2% Fibonacci extension

Take Profit: 1902.99

Reason for Take Profit:

Horizontal swing high resistance, 161.8% Fibonacci extension

Stop Loss: 1843.90

Reason for Stop Loss:

Horizontal swing low support, 161.8% FIbonacci extension, 161.8% Fibonacci retracement