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Daily Gold Analysis 29th June 2016

Gold Forecast

Daily Gold Analysis 29th June 2016


Good Morning Forex Friends 

In our yesterday prediction of  gold, we were looking for the break of symmetric triangle upside or downside.Gold move lower and break its support of symmetric triangle and made a low around 1305 area.Our first target was 1301, which was not  hit.Today i am sharing only 4 hour chart to give my logical view regarding gold next move.Please read the 4 hour analysis written below.

4 Hour Gold Analysis

After breaking the support of symmetric triangle , gold move down but fail to hit our first target in yesterday move.We have still bearish thoughts with same  target and invalidation area.I am expecting gold may give correction or it can touch the broken support of symmetric again , which is now resistance, then it may reverse back for the low minimum 1301 and maximum 1283-85.I am expecting a bounce fro 1283-85 towards new bullish rally with target 1349-51.

Alternately if gold fail to move lower and price goes upside and break the resistance of 4 hour time frame chart , which is mention in the chart below, it may change our thought from short term bearish to bullish with target 1349-51.I have mention resistance area or bearish invalidation line in the chart below.Please see the chart and trade accordingly.

Note: Some forex friends are getting trouble to make charts, or may b they are not able to get the chart pattern.They can contact me using my email or skype ID.we will discuss with them.

4 Hour Gold Chart

Note : Due to  busy schedule , i am not sharing detailed time frame chart analysis today, I will share detailed analysis with all time frame tomorrow. 

 Never risk more then 2% of your account capital in single trade.Always trade with proper risk management plan.

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We are also starting video analysis soon.We are working to make quality videos to give better understanding of our analysis.Our team is working to start education session very soon for beginners to understand the Forex basics.Those who want pro Forex technical analysis course can contact us via email.

Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and help us to improve.

Wish you good luck and happy trading

Mati Ur Rehman

Gold Analyst @ Dailygoldanalysis.com

Email : admin@dailygoldanalysis.com

Skype : mati_ji


Mati Ur Rehman is a forex trader having 11 years experience in the field and knows as a technical analyst. He is an expert in XAUUSD Gold Analysis.

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