Type: Bullish BounceKey Levels:Resistance: 1797.78Pivot: 1778.616Support: 1762.318Preferred Case:Prices are consolidating in a inverse head and shoulders pattern. We see potential from our Pivot at 1778.616 in line with 23.6% Fibonacci retracement towards our 1st resistance at 1797.78 which is an area of Fibonacci confluences.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 1762.318 in line with 100% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/xauusd-h4-or-potential-trend-reversal"
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