GOLD XAUUSD ANALYSIS NET WEEK July 1-5

Here is the market outlook on Gold (XAUUSD) for the coming week from 1st to 5th o July. It is a clear projection o what is mostly likely to happen on gold in the coming week.

ANALYSIS.
In monthly timeframe the current monthly candlestick has closed in an indecision form, this indicates that there was a fight between buyers and sellers this month. But previous month indicated that sellers were taking control.

In weekly timeframe the idea of three wave swing to the upside remains the same, but price has failed to break the static support at 2300 level. Therefore the expected fourth wave maybe completed at the level of the static support.

In daily timeframe the idea has changed a bit compared to what was expected in previous analysis based on the idea mentioned above that the corrective wave might be completed at the current price level. Here we see there is a possible triangle formation.

In four hour timeframe there is a clear beginning of trend to the upside where by a clear five wave move is identified.

PRIMARY PROJECTION.
Watch for possible buy opportunities when price correct to the level between 2310 to 2303 with targets on the upper channel of the triangle.

ALTERNATIVE PROJECTION.
Watch for a possible break and retest of the upper channel of the triangle then spot buy opportunities.
Elliott WaveTrend AnalysisWave Analysis

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