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Safehaven

Best Way to Trade the Gold SelloffGold has cratered along with the other safe havens. It has careened through the 1900 handle back down to 1800's, currently finding support at 1863, which is a strong technical and Fibonacci level. It appears to have completed the 5-3 Elliott Wave. Observe that even with this correction, gold can still be considered in a 'bull phase'. Especially considering the bounce it had off 1863. Current levels may make a good entry point for a long trade. We are right at 1941 at the moment, which is another technical and fibonacci level. A narrow stop would be good risk management. The next level above is 1975, but below we have a vacuum zone to 1906. The Kovach OBV has taken a nosedive, registering the selling momentum. It does appear to be turning, along with the Kovach Chande, suggesting that this bear phase may be ending, or at least coming up for air.
COMEX:GC1!Long
by quantguy
Best Eurodollar Trading StrategiesThe Eurodollar has retreated slightly from highs it achieved earlier this week. Currently, it is knocking about 99.815, the lower bound of this newly established price range. At this point it could bounce and test the upper bound again, or break lower and test 99.800, a level it has very much respected in the past. The Kovach OBV has dropped off, suggesting that the longer the Eurodollar spends at these levels, the more inclined it will be to test lower levels
G
by quantguy
Best Gold Trading IdeasWe have been bullish of gold for a while now and how this paid off! We called the price target perfectly yesterday at the Fibonacci extension level at 1865. Honestly, we expected a nice dip to enter a position, but we didn't have a single pullback. Gold is in completely new territory, and it appears to have just completed the impulse wave of the next Elliott Wave. Watch for a pullback as the corrective phase of the 5-3 Elliott Wave forms. The momentum is very strong at this point, as verified by the Kovach Momentum indicators. The Kovach Chande has pulled back, indicating a lull. The pullback to 1850 may be all that we have at this point, but we could see 1837. We are in completely new price territory so the next price targets are in the 1900's.
COMEX:GC1!Long
by quantguy
Best Gold Trading IdeasGold is continuing the sideways Elliott Wave that we have identified last week. It has tracked our prediction almost perfectly. If we are right, expect another dip to 1795 or 1787. Although we are still bullish of gold, GC is trekking in the vicinity of all time highs, so watch for some more ranging before breaking out further. The Kovach Momentum Indicators are both oscillating, meaning there is some ambivalence here, and a trend has not yet been established (on 30 min charts.).
COMEX:GC1!Short
by quantguy
WEEKLY ANALYSIS EURJPY SHORT SETUP!! BREAK OF A CHANNEL!!Good day trader, I hope you have a great day ahead and start off your day with a good trade! Start off with EURJPY, as shown on the chart above, you can see a break of an upward channel. Therefore, bear is most likely to take place and before a strong bearish movement, a correction is expected to take place. We will be looking for sell opportunity at 50% and 61.8% fibonacci retracement zone. A push to -27.2% is most likely to happen if price reject EMA 55. Sell limit: 121.118 SL: 121.500 TP 1: 120.30 TP 2: 119.826 Always go for a clear analysis and make sure to have a proper risk management for yourself. Happy trading traders!
Short
by ChinSengFx
CADJPY H4 SHORT SETUP! Good day traders, first of all I would like to apologize for not uploading any analysis for the past few days due to real life commitment which is to handle my team and my family. Nevertheless, let's get started. CADJPY has been in consolidation since June 2020. Price has broke a three top formation and it means bear market has started to take place. So I would be looking at a short position setup at fibonacci retracement level of 50% which is also inline with the neckline of triple top, a good risk reward ratio trade. A good sell setup is as below, Sell limit: 78.97 SL: 79.21 TP: 78.35 Happy trading. Always go for a clear entry and it's always you versus yourself, not you versus the market.
Short
by ChinSengFx
1
Best Trading Ideas for GoldGold has rejected our 1832 level from yesterday, but it did make quite a run for this level, falling just short of it. Gold futures have found support at 1815, which is a technical level which aligns with the nested Fibonacci levels. Our Elliott Wave analysis suggests that there could be one more run left in the tank. if we are wrong, it could retest lows around the 1800's or even the upper 1700 handle. The Kovach OBV has been very strong but appears to have leveled off for now. The Kovach Chande has pulled back, confirming that current levels may be a great entry opportunity. If so, keep a tight stop, because there is a vacuum zone down to 1804.
COMEX:GC1!Long
by quantguy
AUD/CHF Trade AnalysisAUD/CHF has been in an Ascending Triangle since May. Price touched the bottom of the channel two days ago and there was sharp bullish rejection. The Sellers are still in control of the 0.6600 resistance area, but the buyers have used the momemtum of the positive US ISM report and the positive US Jolt Job openings report to push the price upward. The market is still looking for direction, the coronavirus pandemic is not over yet, the economic crisis is not over and there are a lot of world issues like the China-in-Hong Kong crisis, US vs China trade war and China - India Border clash. This will increase Demand for Safe Havens like CHF and Gold. The triangle is almost at the end, A Breakout will soon happen as you can see in the chart. AUD Vs CHF. Commodity Currency Vs Safe Haven Currency. Bulls Vs Bears. Buyers Vs Sellers. Who will win?
by Benettel
Gold has More Room on the UpsideWay to Gold! The gold has once again broken new high and reached 1779, a level not seen in more than 8 years. As high as gold already was, the demand for safe-haven asset continued to rise through the pandemic. There are so many reasons - the unprecedented printing of money (i.e. bond purchases), the super low-interest rates which will last for a couple of years, and of course the uncertainty of the pandemic and the recent surge in COVID cases in the US. Historically speaking, the most recent financial epidemic in 2008 has clearly shown us just how much can gold climb while the economy is trying to recover from recessions and depressions. So, just in case if you're thinking that the gold is over-valued, it's probably more like 'undervalued'. The break of a new historical high could very well be the beginning of the rise of gold price. However, it's likely inevitable that strong resistance will be faced the nearer price gets to the historical high of 1920, and before that, the near 9-month supply zone just right ahead. As of now, gold should have a smooth journey ahead to climb further, at least not before it reaches 1810.
OANDA:XAUUSDLong
by AlgoVenture
Grifols: A new bullish channel up to +18%?Focused on hemoderivatives (blood plasma), Grifols is great value by most of investors. Even though the company might be one day spitted by any scandal on how it is gathering the plasma in the US, americans have got a high stake on it and today it is focusing on an hyperimmune immunoglobulin with specific antibodies against the SARS-CoV-2 virus. Grifols estimated an impact on its accounts of €200 million and many rating houses have downgraded the stock. Its 2019's profits were up 4.8% to 625 million and an EBITDA of 1,434 million (+17,3% YoY). In 2020, Q1 Net profits were up 63% and EBITDA 14.9%. Results on its tests will be presented in July (the mandatory 14 days to see whether the virus is gone or not). We may experience volatility in the price of the company until July 01. According to some news, Grifols' margins were not attractive and that is why the correction of the share price has taken place. Technically speaking, the company might be immersed in a bullish channel started on March 16 and closing out a triangle started on Feb 20. We could expect the share price go at least up to 29.40 level in the next days. Best price to enter Grifols might be 27€. Also, note that when markets are down, Grifols is up acting like a safe haven asset.
BME:GRFLong
by alexinve
EURUSD: New safe haven against major pairs?This morning, I saw an educational video from transparent-fx and showed that the EURUSD is shaping an inverse H&S in D chart and indeed it is. Besides, in the H4 chart it comes from shaping a non-inverse H&S what makes you realise that the pair is experiencing a sideways movement since June 8. If the figure is finished, by June 30 EURUSD could reach 1.14. In addition, fundamental readings have been quite strong, coronavirus is contained in most of the european countries and even though Germany has seen a surge in covid19 cases, Merkel is still the Chancellor so she knows how to deal with this. On the other side of the Atlantic, US and Latin America are not improving which is why investors are running away from america (which has recently seen a spike in bankruptcies filing in the past week, 13-20 June) and embracing euro as the only safe currency since Japanese yen lost that condition when covid19 outbreak sparked the markets around Feb 24. So EURUSD might be the safest currency (inveur, investing.com's euro index is staying around 101, highs not seen since 2014) for this summer-autumn only, until everything drops down again.
Long
by alexinve
Top Gold Trading Strategies for FridayGold continues to range, like most assets since yesterday. It seems to really be having trouble with a cluster of levels between 1737 and 1742, including Fibonacci and technical levels. Where it goes from here will depend on risk sentiment in the news, so please refer to our Ghostsquawk AI tool for updates as the day progresses. On the upside, it could hit 1753, the relative high. On the low side, watch 1705, a Fibonacci level that is really close to our psychological level of 1700. The Kovach Chande indicator (which comes with the Ghostsquawk AI package) is encroaching the high end of its oscillatory range, so this suggests we may see a retracement, even if it is just a squeeze down to 1728, where we are likely to see support.
COMEX:GC1!Long
by quantguy
EUR/USD - Euro Resilience - BuyIn addition to my previous post which was forecasting a test of 1.15000 and last years August 2019 resistance has demonstrated Euro residence on a risk off day with all major indices down (Airlines and Retail the dominant forces in the sell off). On a basis of euro stimulus and 2nd wave outbreak in the US this could be seen to be a golden opportunity to test the 1.15000 mark. However, safe haven risk off trading could put the ball in the dollars hands. Trade Idea: I would be keen to see if EUR/USD can maintain the upper tier of 1.13000 level with placement of stop loss below the 1.13400 level which it has struck over the past 24 hours and managed to bounce up. TP placed depending on stability above the 1.14000 at either 1.14400 or 1.15000.
Long
by darrenkav25