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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



XAUUSD facing bullish pressure, potential for further upside!


Prices are facing bullish pressure as prices are taking support from horizontal pullback support in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Prices might push up towards 1st resistance in line with -27.2% Fibonacci retracement and 100% Fibonacci extension fibonacci confluence zone. If prices fall through 1st support, prices might take support on 2nd support in line with50% Fibonacci retracement and 78.6% Fibonacci extension. EMA is also below prices, showing a bullish pressure for prices.

Trading Recommendation

Entry: 1855.440

Reason for Entry:

Horizontal pullback support, 61.8% Fibonacci retracement, 161.8% Fibonacci extension

Take Profit: 1880.688

Reason for Take Profit:

-27.2% Fibonacci retracement, 100% Fibonacci extension

Stop Loss: 1844.105

Reason for Stop Loss:

Horizontal swing low support, 50% Fibonacci retracement, 78.6% Fibonacci extension

The material has been provided by InstaForex Company -