FX.co ★ XAU/USD profit target reached, time to start buying

Price has dropped perfectly to our profit target from last week. We turn bullish above major support at 1202.86 (Fibonacci projection, Fibonacci retracement, horizontal swing low support) and expect a push up from here towards 1231.91.

RSI (34) is seeing major bullish divergence vs price signalling a major reversal is approaching.

Stochastic (21,5,3) is seeing major support from 5.55% signalling a bounce is impending.

Buy above 1202.86. Stop loss at 1180.91. Take profit at 1231.91.