XAU/USD 31 July 2024 Intraday Analysis

H4 Analysis:

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

Price has printed a swing BOS, printing an all time high.

After BOS/iBOS price is expected to pullback.

Last analysis and intraday expectation was for price to pull back into discount of 50% EQ or H4 demand zone before targeting weak internal high which currently seems underway, therefore, intraday expectation remains the same.

H4 Chart:

M15 Analysis:

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

Price has printed a bullish iBOS

After iBOS we expect price to pull back, therefore, for an early indication that pullback has initiated we need to see price print a bullish CHoCH.

Bearish CHoCH has been printed which indicates bearish pullback phase initiation and internal range.

Intraday expectation: Price to trade down to either discount of 50% EQ or M15 demand zone before targeting weak internal high.

M15 Chart: