FX.co ★ XAUUSD holding above ascending trendline! Further rise incoming!

Price is holding above ascending trendline support with stochastic indicator testing support where price bounced in the past. A further push up above 1st support at 1844.46 towards 1st resistance at 1864.34 could be likely

Trading Recommendation

Entry: 1844.46

Reason for Entry:

88% Fibonacci retracement and ascending trendline resistance

Take Profit: 1864.34

Reason for Take Profit:

Recent swing high resistance

Stop Loss: 1834.10

Reason for Stop Loss:

Horizontal swing low support