empty
20.06.2018 12:17 PM
Review of GOLD for a week of June 20 on simplified wave analysis

The wave pattern of the H4 graph:

The movement of the price of gold from January 25 sets a bearish wave. In the wave structure, a zigzag (A-B-C) is tracked. The preliminary purpose of the movement is in the area of 1250 USD/XAU ounce.

This image is no longer relevant

The wave pattern of the H1 graph:

The wave is descending, it starts counting from April 11. The nature of the motion is close to the momentum. After the flat correction a week ago, the next stage of decline began.

This image is no longer relevant

The wave pattern of the M15 chart:

Since June 14, a new bearish wave has started. In the next few days one can wait for the counter phase of the movement (B) to be worked out.

This image is no longer relevant

Recommended trading strategy:

In the next weeks, the most reasonable strategy will be the sale of gold. Conditions for buying this tool have not yet begun.

Resistance zones:

- 1290.0 / 1300.0

Support zones:

- 1250.0 / 1240.0

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

Isabel Clark,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Analysis on June 19, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulsive wave structure. The wave pattern is nearly identical to that of EUR/USD, since the U.S. dollar

Chin Zhao 20:20 2025-06-19 UTC+2

EUR/USD Analysis on June 19, 2025

The wave pattern on the 4-hour EUR/USD chart continues to indicate the formation of an upward trend section. The transformation in the structure has occurred solely

Chin Zhao 20:16 2025-06-19 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and GOLD – June 19th

The upcoming week is expected to be flat for the euro. A reversal and downward movement are anticipated from the resistance zone by midweek. The projected support zone indicates

Isabel Clark 10:50 2025-06-19 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and the US Dollar Index – June 19th

At the beginning of the upcoming week, the British pound may complete its upward movement, possibly reaching the resistance zone. Afterward, we can expect the currency's fluctuations to shift into

Isabel Clark 10:45 2025-06-19 UTC+2

GBP/USD Analysis on June 18, 2025

The wave pattern for GBP/USD continues to indicate the development of a bullish impulse wave structure. The pattern is almost identical to that of EUR/USD, as the driving factor

Chin Zhao 20:01 2025-06-18 UTC+2

EUR/USD Analysis on June 18, 2025

The wave pattern on the 4-hour chart of the EUR/USD pair continues to indicate the formation of a bullish trend segment. This transformation is entirely due to the new U.S

Chin Zhao 19:56 2025-06-18 UTC+2

GBP/USD Analysis on June 17, 2025

The wave pattern on the GBP/USD chart continues to indicate the formation of an upward impulsive wave pattern. The wave layout closely mirrors that of EUR/USD, as the main driver

Chin Zhao 21:24 2025-06-17 UTC+2

EUR/USD Analysis on June 17, 2025

The wave pattern on the 4-hour EUR/USD chart continues to indicate the development of an upward trend segment. This transformation occurred solely due to the new U.S. trade policy. Until

Chin Zhao 21:18 2025-06-17 UTC+2

GBP/USD Analysis on June 16, 2025

The wave pattern for GBP/USD continues to indicate the development of an upward impulsive trend. The wave pattern is almost identical to that of EUR/USD, as the main driver

Chin Zhao 19:48 2025-06-16 UTC+2

EUR/USD Analysis on June 16, 2025

The wave pattern on the 4-hour EUR/USD chart continues to indicate the development of an upward trend segment. This transformation occurred solely due to the new U.S. trade policy. Until

Chin Zhao 19:45 2025-06-16 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.