XAU/USD 17 April 2024 Intraday AnalysisH4 Analysis:
Intraday analysis/bias remains unchanged and the same a yesterday's analysis dated 16 April 2024
-> Swing: Bullish.
-> Internal: Bullish.
Price remains contained within an internal range where we saw a reaction from H4 supply with price unable to close below strong internal low.
Price has also reacted to H4 demand where we are currently seeing a reaction.
Current intraday expectation is for price to react at H4 supply level to target weak internal high.
Alternative scenario could be for the price breach and close below internal low as all HTF's require a pullback.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Yesterday's target was hit with price printing another bullish iBOS and subsequently a bearish CHoCH which indicates bearish pullback is underway.
Current intraday expectation would be for price to react at 50% EQ or M15 POI before targeting weak internal high.
Alternative potential scenario would be for price to target, and close below strong internal low as all HTF's require a pullback.
M15 Chart:
