XAUUSD approaching resistance, watch for breakout!
XAUUSD is approaching our first resistance at 1208.76 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a breakout of this level might push price up to our major resistance at 1239.19 (horizontal overlap resistance, 100%, 61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results