Get started

Goldbull

USDCAD Potential push to UpsideA Dovish FED Seeking to Cut Rates. A Channel up identified with price gaining bullish steam after FED signals a rate cut with a dovish outlook towards the Dollar. USDCAD gains a fundamental push backing price swings toward hard weekly resistance of 1.35200. From a technical viewpoint, USDCAD sees verified support at 1.30450. Currently in a range bound zone between support @ 1.30450 and resistance @1.31455 Scenario 1. We see price reject of resistance 1.31455 and back down to initial support. Scenario 2. Resistance breaks and daily swings should be favourable as weekly target of resistance @ 1.35200 comes into sight.
Long
by HuracanFX
3
Wait For GOLD to Retrace to 1270.00 Level Before Going LONG!Its no doubt that Gold is bullish in a longer term view, however for those of you who prefer a greater risk to reward ratio it might be favorable to wait for the yellow metal to retrace towards the 1270.00 level before executing a LONG trade. Have a look at the main chart, where the steep upward channel has been broken and pierced the daily 50 EMA and currently its on the path to form a H & S pattern on daily TF. If broken, the yellow metal could test the ascending long term trendline beneath and potentially offer a chance to go LONG with a greater RR chance. Fundamentally speaking, the FOMC meeting scheduled tomorrow will decide the fate of yellow metal in a short term view. A dovish FOMC update has already been priced in by the markets and a particular point to focus on tomorrow's meeting will be the DOT plot and unwinding of the FED balance sheet. Many analyst still feel the FED will hike rates one more time in JUNE and currently the market has priced in 0 rates hikes this year instead of 2 as predicted at the end of last year. Therefore it remains to be seen what happens all in all for you patient GOLD BULLS its advisable to wait for the price to retrace before going LONG for a chunky risk to reward ratio. cheers This just represents my analysis for this pair and its not a signal of any type. although i am already SHORT on the yellow metal, shall the LONG chance arrive i will post the details of entry in a new thread.
OANDA:XAUUSDShort
by FX618Analysis
Gold - Main scenario sees wave B ending between 1,315 and 1,345Gold did indeed continued its correction and reached a low at 1,260 USD on Friday the 6th of October. I hope you followed my advise and went long below 1,265 USD, cause since then a strong recovery is on its way and gold is already back above 1,300 USD. Yet the big questions whether this current up-move is just a wave B type recovery or in deed the beginning of the next big up-leg towards 1,400 USD remains unanswered. Our mechanical Midas Touch Gold Model™ has shifted to a neutral conclusion on October the 9th. Over the last couple of days a few new buy signals showed up. Besides the obvious ones for gold in Indian Rupee & in Chinese Yuan the US-Dollar has come back down enough to create a buy signal for gold six days ago. Especially positive is the fact, that gold in US-Dollar now has a buy signal one the daily, weekly and monthly chart. Overall it therefore doesn’t take too much for a bullish conclusion of our model anymore. But looking at the CoT-Report its clear that the commercial are still holding a massive short-position in the gold futures-market. And you don’t want to bet against them. So besides any short-term recoveries the correction since early September seems not to be over yet. It would be a surprise if the bulls can force the professional players to raise their short positions once again. Coming back to the technical outlook for gold the most likely outcome is that we are currently in wave B that will end somewhere between 1,315 and 1,345 USD. At 1,345 USD there is still an open gap waiting to be filled! The upper Bollinger Band currently sits at 1,316 USD. So we might see a temporary pullback from those levels before gold can find more strength to close the open gap. After that I expect another move down towards at least the rising 200MA currently sitting at 1,255 USD. Only if gold can take out the September highs at 1,357 USD this outlook becomes invalid as it would mean that the correction since early September has already finished at 1,260 USD on October the 6th.
FX_IDC:XAUUSDLong
by MidasTouchConsulting
Gold - Two scenarios with a buy between 1,245 and 1,265 USDTwo scenarios for gold: 1. Since the top at 1,357 USD gold is in a correction which usually turns out to be some form of ABC-Correction. If we are still in wave A, the following wave B should take gold back above 1,300 USD. Probably to around 1,315 USD.. After that expect another wave down which might not end before prices around 1,215 - 1,205 USD are reached. 2. During gold´s sell off there was one shallow bounce. If that was already wave B the whole correction is getting close to be finished. In that case wave C is expected to end between 1,245 USD and 1,265 USD. Thereafter gold should start the next advance which will not stop at the open gap around 1,346 USD but should take us towards 1,400 USD... In any case gold is a buy between 1,245 and 1,265 USD Profit target 1,315 USD or higher Stopp loss 1,235 USD
FX_IDC:XAUUSDLong
by MidasTouchConsulting
2
Gold - Buy The Next Dip Around 1,240 USDAs expected gold continues to trade between 1,200 USD and 1,300 USD. The recent strong recovery from 1,215 USD up to 1,295 USD just two days ago was a bit surprising as we´re getting close to the FED meeting next week and seasonality is not really favorable in spring. But gold is showing more and more strength and has already been breaking out above its depressing six-year downtrend-line and the corresponding large triangle pattern! This is a super strong technical signal. Today gold came back towards 1,271 USD signaling that this break out might not yet be sustainable. But today´s pullback could also be the typical test of the former downtrend-line. Looking at the overbought daily and weekly chart and the lagging miners as well as a very oversold US-Dollar it´s most likely that gold will drop back to its falling 200-day moving average around 1,240 USD over the next couple of days and weeks. This would be another great buying opportunity as I believe we´re getting closer and closer to the big rally towards 1,500 USD. My recommendation is to buy any dip towards 1,250 USD and also start loading up on selected mining stocks over the next couple of weeks. I think especially silver mining stocks will do very well later this year.
FX:XAUUSDLong
by MidasTouchConsulting
1
Gold - Consolidation since early July about to endGold has been consolidating over the last two and a half months. It did everything to confuse everybody. But besides all this short-term noise there has been a very important and extremely bullish development. The Slow Stochastic Oscillator is sitting with both signal-lines above 80 for more than 3 months now and has therefore converted into the rare embedded status. This is super bullish and means the uptrend is locked in... I think the final bottom is due until next Wednesday between $1,300 and 1,310. From there Gold will shoot towards $1,415-$1,430 pretty fast....BUY THE DIP
FX:XAUUSDLong
by MidasTouchConsulting
2