XAUUSD reversing towards our Pivot point, potential for a rise.

2020年12月18日

Description
Price is approaching our Pivot point at 1864.24 which is in line with our 161.8% Fibonacci extension, 61.8% Fibonacci retracement and horizontal graphical resistance. We could potentially see price rise from our Pivot point towards our 1st resistance level at 1890.78, which is in line with 100% Fibonacci extension, 127% fibonacci retracement and horizontal graphical support. It is worth noting that price has recently broken out of the descending trendline and is trending above the tentative ascending trendline. Ichimoku cloud is also showing bullish momentum in line with our analysis.

Pivot: 1864.24
Why we like it:
161.8% Fibonacci extension, 61.8% Fibonacci retracement and horizontal graphical resistance

1st Support: 1851.28
Why we like it:
88% fibonacci retracement and horizontal graphical support

1st Resistance: 1890.78
Why we like it:
100% Fibonacci extension, 127% fibonacci retracement and horizontal graphical support
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