easyMarkets
Short

XAUUSD approaching resistance, potential drop!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Price is approaching our first resistance (horizontal overlap resistance, 50%, 61.8% Fibonacci retracement , short term descending line, 61.8% Fibonacci extension ) where we might see a drop to our first support (horizontal overlap support, 61.8% Fibonacci retracement ). Stochastic is also approaching resistance where 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.

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