XAU/USD 01 July 2024 Intraday Analysis
H4 Analysis:
Analysis/bias remains the same as yesterday's analysis dated 07 June 2024.
-> Swing: Bullish.
-> Internal: Bearish.
As previously mentioned, price reacted at 50% EQ of the internal range to target weak internal low, however, price was unable to close below internal low due to H4 demand zone.
Nonetheless, internal structure remains bearish until strong internal high is taken out.
Price is once again showing reaction to premium of 50% EQ.
Intraday expectation: Price to once again target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a series of bullish iBOS' with price now aligning itself with swing structure
Price previously reacted from discount zone of 50% EQ but was unable to maintain it's bullish momentum to target weak internal high.
Price continued bearish, reacted at strong internal low and M15 POI.
Price has reacted at premium of 50% EQ.
Intraday expectation: Internal structure is bullish, therefore, technically price should target weak internal high.
Alternative scenario is price to target strong internal low as we need to be mindful that H4 is in bearish pullback phase.
M15 Chart:
Analysis/bias remains the same as yesterday's analysis dated 07 June 2024.
-> Swing: Bullish.
-> Internal: Bearish.
As previously mentioned, price reacted at 50% EQ of the internal range to target weak internal low, however, price was unable to close below internal low due to H4 demand zone.
Nonetheless, internal structure remains bearish until strong internal high is taken out.
Price is once again showing reaction to premium of 50% EQ.
Intraday expectation: Price to once again target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a series of bullish iBOS' with price now aligning itself with swing structure
Price previously reacted from discount zone of 50% EQ but was unable to maintain it's bullish momentum to target weak internal high.
Price continued bearish, reacted at strong internal low and M15 POI.
Price has reacted at premium of 50% EQ.
Intraday expectation: Internal structure is bullish, therefore, technically price should target weak internal high.
Alternative scenario is price to target strong internal low as we need to be mindful that H4 is in bearish pullback phase.
M15 Chart:
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