XAU/USD 16 August 2024 Intraday Analysis
H4 Analysis:
Analysis/Bias to remain the same as yesterday's analysis dated 15 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
As per previous intraday expectation, price was approaching internal high, however, due to US CPI data, and traders trimming rate-cut bets due to US CPI data, price had a bearish reaction, nonetheless, bullish structure remains intact.
Intraday expectation: Price to continue to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Yesterday's intraday expectation was met with price targeting weak internal low printing a bearish iBOS.
Bullish CHoCH positioning and strong internal high are positioned at the same level, however, as price has pulled back to discount of 50% internal EQ, I am happy to confirm internal low.
Price has reacted at H4 supply zone.
Intraday expectation: Price to target weak internal low, however, and as per yesterday's intraday expectation, we need to be mindful that H4 internal structure is bullish.
M15 Chart:
Analysis/Bias to remain the same as yesterday's analysis dated 15 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
As per previous intraday expectation, price was approaching internal high, however, due to US CPI data, and traders trimming rate-cut bets due to US CPI data, price had a bearish reaction, nonetheless, bullish structure remains intact.
Intraday expectation: Price to continue to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Yesterday's intraday expectation was met with price targeting weak internal low printing a bearish iBOS.
Bullish CHoCH positioning and strong internal high are positioned at the same level, however, as price has pulled back to discount of 50% internal EQ, I am happy to confirm internal low.
Price has reacted at H4 supply zone.
Intraday expectation: Price to target weak internal low, however, and as per yesterday's intraday expectation, we need to be mindful that H4 internal structure is bullish.
M15 Chart:
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