The dust (after the FOMC statement) seems to have settled. The gains that the USD made during the week of 14 June, did not get a follow through and in fact, the USD gave back a bit last week.

GOLD Daily 28.06

As long as Gold is above 1685, I am still bullish . On the daily I also see a support zone between 1795 and 1760 and we are within this zone for the past few trading days. Zooming in on the H4 chart, we can see that the bears have been having the upper hand – the bearish candles are larger and the bears have been able to quickly recover the territory they lose to the bulls.
However, the battle for control is ongoing and we can see an ascending wedge under formation. We are making higher highs and there is a definite squeeze to the up side. If this continues, we will see the 20ema carrying price.

Bullish scenario – Currently, $1795 seems to a line in the sand but an impulsive bullish move, a break of this barrier and strong follow through should take us to the $1859 region.
Bearish scenario – If the bears start to gain control of the market, we will see lower lows, a break below the 1760 level and an attack on the 1685 support.

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Ravi Madan
After a rocky start in 2010 (blowing up a $10,000 trading account), and experimenting with various indicator based systems, he found his comfort zone and success with price action trading. He does not study chart or candlestick patterns, instead relies on what the chart is telling about direction, strength and the flow in the markets. He advocates that the most vital components to trading success are: a trading plan, following it 100% of the time, keeping a positive R/R ratio,sound risk and money management, patience & discipline. Keeping a journal where every trade is documented is an essential tool for learning and enhancing skills. Finally, never trading without a stop, never moving the stop away from price and not being ina hurry to move it to breakeven either, complete his trade execution style.He also publishes trade ideas on TradingView.