FX.co ★ Daily Video Analysis: XAUUSD facing bullish pressure, potential for further upside!

Today we take a look at XAUUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing further bullish pressure as it holds above the ascending trendline support, in line with our bullish bias. We could potentially see a further push up from our buy entry level, in line with our 88% Fibonacci retracement, towards our take profit levels, in line with our horizontal swing high resistance levels. It is worth noting that the Stochastic indicator has also just bounced from the lower support level where it has reacted from before.