Bullish Bounce

Key Levels:
Resistance: 1878.75
Pivot: 1862.5
Support: 1778.25

Preferred Case:
On the H4, with price moving below the ichimoku cloud , we have a bearish bias that price will continue to drop from the pivot at 1862.5 at the swing high in line with the 78.6% fibonacci retracement to the 1st support at 1778.25 at the swing low in line with the 100% fibonacci projection and -27.2% fibonacci expansion .

Alternative Scenario:
Alternatively, price could reverse off the pivot and rise to the 1st resistance at 1878.75 in line with the pullback resistance, 100% fibonacci projection and 38.2% fibonacci retracement .

With no major news events for Gold and expected further strength in the DXY , we have a medium bearish view on gold .