XAU/USD 27 June 2024 Intraday Analysis
H4 Analysis:
-> 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.
Intraday expectation: Price could potentially be seeking further liquidity to once again target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
As per previous intraday expectation price did target weak internal low and printed a double bearish iBOS.
Price has reacted at a H4 demand level to potentially initiate bullish internal pullback.
Price has yet to print a bullish CHoCH indicating, but not confirming bullish pullback initiation following bearish iBOS, therefore, price is contained within an internal high and fractal low.
Internal high and CHoCH positioning are currently at the same level.
Intraday expectation: Price to either react at premium of 50% EQ or M15 POI before targeting weak internal low.
Price could potentially continue bearish to engineer a CHoCH closer to current price.
M15 Chart:
-> 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.
Intraday expectation: Price could potentially be seeking further liquidity to once again target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
As per previous intraday expectation price did target weak internal low and printed a double bearish iBOS.
Price has reacted at a H4 demand level to potentially initiate bullish internal pullback.
Price has yet to print a bullish CHoCH indicating, but not confirming bullish pullback initiation following bearish iBOS, therefore, price is contained within an internal high and fractal low.
Internal high and CHoCH positioning are currently at the same level.
Intraday expectation: Price to either react at premium of 50% EQ or M15 POI before targeting weak internal low.
Price could potentially continue bearish to engineer a CHoCH closer to current price.
M15 Chart:
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