easyMarkets
Short

XAUUSD approaching resistance, potential drop!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Price is approaching our first resistance (horizontal swing high resistance, 100% Fibonacci extension , 78.6% Fibonacci retracement ) where we might see a drop in price to our major support (horizontal swing low support, 38.2% Fibonacci retracement ).
Stochastic is reversing off resistance as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.



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