LONG XAUUSD approaching its support, potential reversal could o

8 Mar 2018

XAUUSD is approaching its support at 1317.69 (61.8% Fibonacci extension , 61.8% Fibonacci retracement , horizontal swing low support) where a reversal could happen and price could potentially rise to its resistance area between 1336.67 (61.8% Fibonacci extension , 61.8% Fibonacci) and 1340.60 (61.8% Fibonacci retracement , horizontal swing high resistance). If price breaks past its 1st support, it could also fall to its support area at 1305.75 (100% Fibonacci extension , 100% Fibonacci extension , 100% Fibonacci extension , 61.8% Fibonacci extension , horizontal overlap support)

Stochastic (34, 5, 3) shows a corresponding approach to its support at 5.319% where a reaction could occur.