XAU/USD 28 March 2024 Intraday Analysis
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.
As mentioned on 22/03/2024, Intraday expectation is for price to react H4 POI to then target fractal high, which is currently underway.
H4 Chart:
M15 Analysis:
Analysis/Bias remains the same as yesterday (27/03/3034)
-> Swing: Bullish.
-> Internal: Bullish.
-> Sub-Internal: Bullish.
Price printed a bullish iBOS followed by bullish BOS following the Fed's dovish outlook on interest rates last week.
Price printed a bearish CHoCH, indicating, but not confirming, that pullback has initiated. This is also a requirement for all HTF's
Due to the size of the internal range I plotted sub-internal range, which is denoted in red, to gain a micro-view of price action.
Sub-internal structure has now switched bullish in-line with internal and swing structure. Sub-internal structure has printed a further bullish iiBOS.
Intraday expectation is for price to pull back following iiBOS to either M15 POI or 50% EQ of the sub-internal structure before target weak internal high which is denoted by blue dashed line.
M15 Chart:
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