As per previous intraday expectation, price was approaching internal high, however, due to US CPI data, and traders trimming rate-cut bets due to US CPI data, price had a bearish reaction, nonetheless, bullish structure remains intact.
Intraday expectation: Price to continue to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish. -> Internal: Bearish.
Yesterday's intraday expectation was not met due to US CPI data release and traders trimming rate-cut bets which saw XAU print bearish price action.
Price has printed bullish CHoCH to indicate bullish pullback initiation.
Price has also reacted at 50% EQ of the internal structure.
Intraday expectation: Price to target weak internal low, however, we need to be mindful H4 TF remains bullish.