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XAUUSD approaching resistance, potential drop!

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD is approaching our first resistance at 1233.86 (horizontal swing high resistance, 61.8% Fibonacci extension , 78.6% Fibonacci retracement ) where a strong drop might occur pushing price down to our major support at 1219.38 (horizontal swing low support, 38.2% Fibonacci retracement ).
Stochastics (89,5,3) is also approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.


Comments

Am Looking at the same tthing, but with an extended targethttps://www.
Reply
Chozer lehlogonolo
@lehlogonolo, : Long or short.?

When is the estimate date that it will hit your extended target if I may know.?
Reply
@Chozer, Short,as for date that i cannot confirm.
Reply
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