GOLD XAUUSD NEXT WEEK June 24-28
Here is the market outlook on Gold XAUUSD for the coming week from 24th to 28th of June. It is a clear market projection for five days of the coming week.
In monthly timeframe we see June candlestick is forming a sort of indecision candlestick, but we still have five trading days for the monthly candlestick to close. Therefore a completed monthly candlestick formation will be identified in Friday. But in general in this timeframe bearish momentum is expected to continue.
In weekly timeframe the idea of three wave swing to the upside followed by correction remains the same. Price is getting rejected from the downside at a static support. But bearish momentum is mostly dominated the market move by the end of the week, therefore will be next week as well.
In daily timeframe price responded to the static and dynamic resistance as per previous week analysis. In this timeframe clear lower highs and lower lowers are formed, therefore a new low is mostly likely to be the next formation in this timeframe.
In four hour timeframe price has formed a fast and stronger bearish move that indicate presence of sellers at the resistance level in this timeframe. Currency price is moving at the minor dynamic support. This level will create trading opportunity when it either reject price or get broken to the downside.
PRIMARY PROJECTION.
Consider selling Gold when price form sell confirmations between 2640-2360 level. Target will 2600 level.
ALTERNATIVE PROJECTION.
Consider selling Gold when sell confirmations are formed after break and retest of the dynamic support explained in this timeframe.
In monthly timeframe we see June candlestick is forming a sort of indecision candlestick, but we still have five trading days for the monthly candlestick to close. Therefore a completed monthly candlestick formation will be identified in Friday. But in general in this timeframe bearish momentum is expected to continue.
In weekly timeframe the idea of three wave swing to the upside followed by correction remains the same. Price is getting rejected from the downside at a static support. But bearish momentum is mostly dominated the market move by the end of the week, therefore will be next week as well.
In daily timeframe price responded to the static and dynamic resistance as per previous week analysis. In this timeframe clear lower highs and lower lowers are formed, therefore a new low is mostly likely to be the next formation in this timeframe.
In four hour timeframe price has formed a fast and stronger bearish move that indicate presence of sellers at the resistance level in this timeframe. Currency price is moving at the minor dynamic support. This level will create trading opportunity when it either reject price or get broken to the downside.
PRIMARY PROJECTION.
Consider selling Gold when price form sell confirmations between 2640-2360 level. Target will 2600 level.
ALTERNATIVE PROJECTION.
Consider selling Gold when sell confirmations are formed after break and retest of the dynamic support explained in this timeframe.
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