franklin886okoro

XAUUSD had a constitutional impulsive move and is about to take a sharp fall

XAUUSD market price is crashing down. Apparently, the bears are in control of the market. But l expect the XAUUSD market price to retrace a 50% of the previous trend before the bears will continue trending down again.

I expect the XAUUSD market price to close all the gaps on 1H and return possibly to the Orderblock on both M30 and 1H before bullishing up in the coming week, 21st July.

Looking at the D/S candlestick of interest on the XAUUSD WEEKLY chart, the bulls has taken over. As a result, the market will bullishing coming week. But l don't expect ATH like many traders sentiment are suggesting. Price target this coming week is around $3,403 area.

I expect XAUUSD to spike up and reversed to continue bearishing this coming week.

From the look of XAUUSD market movements, you will understand that the price is going sideways as envisaged last week. Based on the up and down price movements within the impulse correction trendlines on H4, the price of XAUUSD is going to bullish to between 1960 - 1970 suppression or upper impulse correction lines when the XAUUSD market opens next week. Probably. the sellers may come in thereafter. Also, a wave seems to be developing on 1D. Trade wisely. - Progress-FX

Following the re-test of 1945 area last week, the XAUUSD market price seems to officially marked the beginning of SIDEWAYS market movements on H4 in the coming week (31th July - 4th August, 2023). Video of the analysis will drop on my YouTube channel shortly.

The XAUUSD Market price is going to test 1954 or probably below that amount to form the number 2 of the Elliot Wave impulse correction on H4 time frame. When the XAUUSD market opens on Monday 24th, 2023, it will be almost impossible to expect a strong reversal long moves until during the FOMC news next week. But in all, the XAUUSD market price is going to bullish after it finished consolidating

Based on the previous XAUUSD WEEKLY ANALYSIS l posted which l shared a strong bullish views on XAUUSD, l am expecting a retracement to about 1935 and then a bull run will continue on XAUUSD this week.

XAUUSD price broke the previous bottom trend line in the last XAUUSD analysis l posted, forming a new Low at the previous uptrend demand and supply area. Right now, there is a possibility for trend reversal in the 1W time frame as supported by 4h and 1h confirmations too. Also, a fractal confirmation of the possible reversal or impulse corrections will kick in on 1W time frame as soon as the XAUUSD market opens for the new week. This is not a personal financial advice. Trade wisely.