XAU/USD 13 June 2024 Intraday Analysis
H4 Analysis:
Analysis/Bias remains the same as analysis dated 11 June 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued to trade to the downside
Price has now printed a bullish CHoCH which indicates initiation of bullish pullback phase.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Previous intraday expectation dated 10 June 2024 was for price to price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low.
Price has printed a bullish CHoCH which is indicative of bullish pullback phase initiation.
Intraday expectation: Price to continue bullish, react at premium of 50% EQ or H4 POI before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish iBOS following yesterday's 12 June 2024) US CPI data release.
Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS.
Price is reacting from discount of 50%.
Intraday expectation: Price to target weak internal high.
M15 Chart:
Analysis/Bias remains the same as analysis dated 11 June 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued to trade to the downside
Price has now printed a bullish CHoCH which indicates initiation of bullish pullback phase.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Previous intraday expectation dated 10 June 2024 was for price to price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low.
Price has printed a bullish CHoCH which is indicative of bullish pullback phase initiation.
Intraday expectation: Price to continue bullish, react at premium of 50% EQ or H4 POI before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish iBOS following yesterday's 12 June 2024) US CPI data release.
Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS.
Price is reacting from discount of 50%.
Intraday expectation: Price to target weak internal high.
M15 Chart:
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