Title
XAUUSD H1 | Potential reversal from 23.6%
Type
Bullish Bounce
Preference:
The price is nearing ouXAUUSD H1 | Potential reversal from 23.6% which lines up with a 23.6% Fibonacci retracement level. If the price were to reverse from this level, it could potentially rise towards theXAUUSD H1 | Potential reversal from 23.6%
Alternative scenario:
On the other hand, if price breaks below the pivot point, it could drop to theXAUUSD H1 | Potential reversal from 23.6%
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.