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XAUUSD Testing Resistance, Potential For Reversal

Oleh ICmarkets
Broker
XAUUSD is testing its resistance at 1207 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 1184 (50% Fibonacci retracement, horizontal swing low support) could occur.
Stochastic (55, 5, 3) has reversed off its resistance at 96% where a corresponding drop is expected.
Chart PatternsForexforexsignalsHarmonic PatternsTrend AnalysisUSDXAUXAUUSDxauusdshort
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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