FX.co ★ Fractal analysis for GOLD on June 21

Forecast for June 21:

Analytical review on the scale of H1:

For Gold, the key levels on the H1 scale are: 1295.18, 1288.23, 1281.37, 1275.43, 1267.90, 1255.53, 1251.12 and 1242.99. Here, the continuation of the movement to the bottom is expected after the breakdown of the level of 1267.90. In this case, the target is 1255.53. In the area of 1255.53 - 1251.12 is the consolidation of the price. For the potential value for the bottom, consider the level of 1242.99. From this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 1275.43 - 1281.37. The breakdown of the last value will lead to in-depth correction. Here, the target is 1288.23. This level is the key support for the downward structure. Its breakdown will lead to the formation of the potential for the initial conditions for the upward cycle. Here, the target is 1295.18 .

The main trend is the downward structure of June 14.

Trading recommendations:

Buy: 1275.50 Take profit: 1281.30

Buy: 1281.45 Take profit: 1288.00

Sell: 1267.60 Take profit: 1255.60

Sell: 1251.00 Take profit: 1243.00