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XAUUSD approaching support, potential bounce!

Long
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
easyMarkets Broker  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns XAUUSD XAU USD xauusdlong xauusdshort
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trendanalysis harmonicpatterns chartpattern xauusd xau usd xauusdlong xauusdshort
XAUUSD is approaching our first support at 1283.81 (horizontal swing low support, 61.8% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 0.6866 (horizontal overlap resistance, 61.8% Fibonacci retracement).
Stochastic is also approaching support.
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Losses can exceed the initial investment so please ensure you fully understand the risks.

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