XAUUSD bounced perfectly to reach our resistance target. We now see major resistance at 1304 (Fibonacci retracement, horizontal overlap resistance, descending resistance, Fibonacci extension, ichimoku cloud) and a strong reaction could occur at this level to push prices all the way down to major support at 1284 (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.