XAUUSD approaching resistance, potential drop!
XAUUSD is approaching our first resistance at 1208 (horizontal overlap resistance, 61.8%, 100% Fibonacci extension, 76.4% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1197 (horizontal swing low support).
Stochastic (55,5,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop 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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