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XAUUSD near key resistance, could possibly drop

Oleh Tickmill
Broker

XAUUSD is approaching its resistance at 1291.78(61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance) where it is expected to reverse down to its support at 1270.58(50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance where a corresponding reversal is expected
Chart PatternsforexsignalsHarmonic PatternsTrend AnalysisUSDXAUXAUUSD
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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