Gold: cyclical analysis and turnaround datesIn our previous analysis of gold (XAUUSD) we assumed a final stab (on the bottom) and turning point around June 30th. Based on the calculations, there was a high probability that there would then be an upward movement until 05/06. will come.
From the point of view of the cyclical analysis, the movement low of June 30th and the high of July 6th were hit exactly.
The turnaround dates along with the market-specific price targets were published accordingly as part of our swing trading strategy.
Market-moving actors point the way
After the previous upward movement with a high of 1,815 USD, there was an increase in closeouts within the upper limit (red zone), which led to an immediate counter-reaction and a temporary decline. This point in time confirmed the high we were aiming for (in the current fractal). Closing any remaining long positions was our logical conclusion after the first signs of exhaustion.
Gold Price - What is the Current Forecast?
As mentioned in our analysis of June 29th, a more sideways trend is to be expected for the next few days. Of course, this statement is not set in stone, but the primary and sustained increase is not expected until July 16. If there are no major disruptions (from wherever) in the further course, a further upward movement can be expected (from July 16) until August 10 (+/-).
(Our turnaround dates have an average tolerance of 3 days. In 80% of the cases it is 2 days.)
As usual, our subscribers will receive the exact course goals and entry areas via our mailing list.
Always good trades!
Note:
Despite careful analysis, Global Investa accepts no liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
