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15.06.2021 08:24 AM
XAUUSD reacting off pivot, potential for further upside!

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XAUUSD is currently reacting off horizontal swing low support in line with 161.8% Fibonacci retracement and 127.2% Fibonacci extension . Prices might push up towards horizontal swing high resistance in line with 161.8% Fibonacci extension . If prices push down beyond current support, prices might take support from horizontal swing low support in line with 161.8% Fibonacci retracement and 161.8% Fibonacci extension . MACD is also showing bullish pressure.

Trading Recommendation

Entry: 1857.60

Reason for Entry:

Horizontal swing low support, 161.8% Fibonacci retracement, 127.2% Fibonacci extension

Take Profit: 1902.99

Reason for Take Profit:

Horizontal swing high resistance, 161.8% Fibonacci extension

Stop Loss: 1843.90

Reason for Stop Loss:

Horizontal swing low support, 161.8% FIbonacci extension, 161.8% Fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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