Salzworth

Outlook on XAUUSD: Bullish play seen

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
On the H1 time frame, prices are testing support at 1917.26, in line with the 50% Fibonacci retracement , 78.6% Fibonacci extension where we could see further upside in prices, with 1942.47 as our resistance target, in line with the 78.6% Fibonacci retracement . Stochastic is approaching support as well where we could see further upside above this level.
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