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
