XAUUSD both buy and sell scenario are possible

٩ يونيو

**Monthly Chart**

XAUUSD last month's candle closed as a big key reversal after reaching a new record high at around 2,450 level. This month's candle which is still active moved to test 50% of last month's candle and then moved lower with US NFP and Employment Change last Friday. This has changed the market structure and provided a shift in direction.

Although the long-term view for XAUUSD is bullish, there is a good chance to see a further move toward the monthly IPA at around 2,100 level as a short-term directional bias.

**Weekly Chart**

Last week candle also closed lower with a big key reversal (or high test bar formation), which suggests the start of a bearish move on XAUUSD. However, we need to see the price break the weekly swing low at around 2250 before resuming the bearish move.

**Daily Chart**

The daily candle of last Friday formed as IPA candle which indicates that there were more sellers to XAUUSD than buyers. This has also provided a short-term bias for XAUUSD move to be bearish this week. However, we need to see at least the break of the previous daily swing low to confirm the movement. If it pauses around that level and provides a price pattern then I will be a buyer. On the other hand, if it retraces around 50% of the IPA and provides a reversal pattern then I will be a seller with a target around 2150 level. So both buy and sell scenarios are available but you have to be very careful because this is a key sensitive area that might provide high volatility if you are trading the lower timeframes.

٢٩ يونيو

ملاحظة

XAUUSD monthly candle closed as doji due to the sideway movement of this pair between High 2387.78 and low 2286.83 levels. This has created indecision bias in the market. However, due to geopolitics reasons, this pair has strong momentum to move higher in the next few months. Therefore, we shall assess this pair near supply and demand zones for better risk-to-reward trades.