XAU/USD 25-29 March 2024 Weekly Outlook

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#XAU/USD# XAU/USD 25-29 March 2024 Weekly Outlook

Weekly Analysis:

-> Swing: Bullish.
-> Internal: Bullish.

Price has finally printed a bullish swing BOS.

Most likely scenario would be for price to pull back following swing BOS (Break Of Structure)

First structural indication, but not confirmation that pullback has initiated would be for price to print a bearish CHoCH which is denoted by a vertical blue dotted line. Price has now printed a bearish CHoCH.

Internal structure is now confirmed

Expectation is for price to react at Weekly POI's or 50% EQ, which is denoted in blue, before targeting weak internal high.

Weekly Chart:

XAU/USD 25-29 March 2024 Weekly Outlook

Daily Analysis:

-> Swing: Bullish.
-> Internal: Bullish.

Price has printed a swing BOS. Swing low confirmed and adjusted with swing high yet to be established.

Most likely scenario will be for price to pull back following swing BOS. First indication, but not confirmation, would be a bearish CHOCH denoted with a vertical dotted line.

Price could potentially continue to trade bullish to seek further liquidity before pullback, however, it is looking increasingly likely a pullback will be imminent as the CHoCH has been brought considerably closer.

Daily Chart:
XAU/USD 25-29 March 2024 Weekly Outlook

H4 Analysis:

Bias/Analysis remains unchanged since last analysis dated 22/03/2024

-> Swing: Bullish.
-> Internal: Bullish.

Gold continues it's bullish run following the Fed's dovish outlook on interest rates.

Price has printed a bullish iBOS where we are currently trading within a fractal high and internal low.

Relative to recent price action of the swing range, I have readjusted bullish BOS to bullish iBOS.

Intraday expectation is for price to react H4 POI to then target fractal high.

Because of the need for HTF's requiring a pullback, another potential scenario would be for price to continue bearish and print a bearish iBOS which would then indicate the Daily pullback has initiated.

H4 Chart:
XAU/USD 25-29 March 2024 Weekly Outlook





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