GOLD XAUUSD NEXT WEEK July 15-19.
Here is the market outlook on Gold (XAUUSD) for next week from 15th to 19th of July. It is a clear projection of what is mostly likely to happen on Gold next week.
ANALYSIS.
In monthly timeframe the July candlestick has opened with a stronger bullish momentum following the support of the news this week. But since it is just the beginning of the month, therefore sentiment may change in the future.
In weekly timeframe the idea of three wave swing to the upside remains the same, and currently the correction has completed therefore price is expected to create another three wave swing to the upside.
In daily timeframe the triangle ideas introduced last weekend has remained true followed by a clear five wave move to the upside. The the fifth wave is expected to end within the horizontal resistance presented above the current price level.
In four hour timeframe there is a clear five wave move to the upside as explained in daily timeframe. Price is forming the five wave move in an expanding channel. We have to expect price to complete the fifth wave within the horizontal resistance presented in this timeframe.
PRIMARY PROJECTION.
Watch for buy opportunities after correction of the current five wave move to the upside. But short term sells can be taken when price show signs of correction around the 2430 or 2450 levels.
ANALYSIS.
In monthly timeframe the July candlestick has opened with a stronger bullish momentum following the support of the news this week. But since it is just the beginning of the month, therefore sentiment may change in the future.
In weekly timeframe the idea of three wave swing to the upside remains the same, and currently the correction has completed therefore price is expected to create another three wave swing to the upside.
In daily timeframe the triangle ideas introduced last weekend has remained true followed by a clear five wave move to the upside. The the fifth wave is expected to end within the horizontal resistance presented above the current price level.
In four hour timeframe there is a clear five wave move to the upside as explained in daily timeframe. Price is forming the five wave move in an expanding channel. We have to expect price to complete the fifth wave within the horizontal resistance presented in this timeframe.
PRIMARY PROJECTION.
Watch for buy opportunities after correction of the current five wave move to the upside. But short term sells can be taken when price show signs of correction around the 2430 or 2450 levels.
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