#Gold/EUR #XAUEUR - intermediate/long term (bullish scenario)
Updated
Due to fundamental reasons (Iran conflict, trade tariffs and currency #wars) there is a strong demand for #safe-haven #assets like #Gold, #Silver and #Bitcoin.
If the wave count in the chart is correct Gold has started a new impulse wave (wave 5) which has reached a new ATH on the EUR chart yesterday on January 5th 2020.
On Dec 23th the Wave Trend oscillator has crossed bullish on the weekly time frame which indicated a good buying opportunity for an intermediate swing trade position.
Currently GOLD/EUR has formed a double top with momentum dissipation on the daily time frame. However, there is still strong bullish momentum on the weekly TF!
If this bullish scenario plays out, impulse wave 5 may reach a new ATH of €1570-1600 in coming months!
After this a A-B-C correction will follow which may finish in late 2020 or in 2021 (hopefully this will be a good buying opportunity for long-term investors).
Be patient and do not FOMO. Let the price come to you!
I´m not a financial adviser. For educational purpose only!
If the wave count in the chart is correct Gold has started a new impulse wave (wave 5) which has reached a new ATH on the EUR chart yesterday on January 5th 2020.
On Dec 23th the Wave Trend oscillator has crossed bullish on the weekly time frame which indicated a good buying opportunity for an intermediate swing trade position.
Currently GOLD/EUR has formed a double top with momentum dissipation on the daily time frame. However, there is still strong bullish momentum on the weekly TF!
If this bullish scenario plays out, impulse wave 5 may reach a new ATH of €1570-1600 in coming months!
After this a A-B-C correction will follow which may finish in late 2020 or in 2021 (hopefully this will be a good buying opportunity for long-term investors).
Be patient and do not FOMO. Let the price come to you!
I´m not a financial adviser. For educational purpose only!
Note
Note: According to momentum on the weekly TF there is further upward momentum and strength. However, price moved outside the upper Bollinger band which means that there is a high probability for a pullback to the mean (SMA20 ~ €1350)!
Note
Note: GOLDEN CROSS on the monthly SMA50/100 (August 2019) = VERY RARE BUYING OPPORTUNITY! -> Accumulate gold with DCA for the long-term as soon as prices return to the mean -> governments will continue printing more and more money which will result in enormous asset inflation -> buy REAL MONEY = Gold, Silver and Bitcoin!
Note
SHS formed on H4 chart (bearish reversal pattern)!
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