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Fractal analysis

20.06.201810:31 Forex Analysis & Reviews: Fractal analysis of GOLD on June 20

Long-term review

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Forecast for June 20:

Analytical review on the scale of H1:

For Gold, the key levels on the H1 scale are: 1295.18, 1288.23, 1283.32, 1272.96, 1267.90, 1255.53, 1251.12 and 1242.99. Here, the continuation of the movement downwards is expected after the passage at the price of the noise range of 1272.96 - 1267.90. In this case, the target is 1255.53 and in the corridor of 1255.53 - 1251.12 is the consolidation. The potential value for the bottom is the level of 1242.99, from which we expect a rollback to the top.

The short-term upward movement is possible in the corridor of 1283.32 - 1288.23 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1295.18 and this level is the key support for the downward structure.

The main trend is the descending structure of June 14.

Trading recommendations:

Buy: 1283.32 Take profit: 1288.20

Buy: 1288.25 Take profit: 1295.10

Sell: 1267.90 Take profit: 1255.60

Sell: 1251.00 Take profit: 1243.00

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