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GOLD/EUR

#Gold #XAU/EUR - GOLDEN CROSS approaching (long-term analysis)A very rare extremely bullish signal on the 1M chart of #Gold - a GOLDEN CROSS (50/100 MA) is approaching on Gold/EUR chart which will cross beginning or mid Sep 2019. (Note: On the USD chart the cross will occur approximately 1/2 year later) This is one of the biggest bullish signals and which can indicate an extended bull market for the next 10 years! However, nothing goes up in straight lines. There will be pullbacks which you can use as investment opportunities. I´m not a financial advisor. For educational purpose only!
OANDA:XAUEUR
by PatMoar
#Gold/EUR #XAUEUR - short / intermediate term analysisGold has broken out of its resistance trend line (yellow doted line) which will soon be tested as new support. On H4 TF there is bearish momentum on StochRSI and wave trend oscillator which will bring the price down again to the yellow doted line. Bullish momentum on 1D TF has built up (see StochRSI, and bullish crosses on wave trend oscillator and MACD) which should be strong enough to bring Gold to new highs soon in the short-term (yellow arrow). Note that we are near the distribution zone which is between €1300 - 1387! Day traders can wait for bullish momentum on H1 & H4 TF and set their entry near the yellow line for a long. Swing traders which should have already bought gold can set their TP1 slightly below the distribution zone (~ €1295), and TP2 inside the distribution zone. In a few week short opportunities will arise on higher time frames (1D, 1W chart). Sentiment is also already approaching risky levels for gold investors. However, looong-term I´m very bullish due to the 50/100 MA golden cross on the 1M chart which will come in Sep 2019! I´m not a financial advisor. For educational purpose only!
OANDA:XAUEUR
by PatMoar
2
#Gold/EUR #XAUEUR - intermediate/long term analysisDue to fundamental reasons (trade tariffs, sudden currency devaluation of the Yuan and stock market crash) impulse wave 5 of Gold has broken through the blue doted resistance trend-line and is near its ATH (Gold/EUR chart). However, there are 3 other strong resistance lines: - dashed violet resistance trend line (currently around €1360.-) - horizontal ATH resistance line (~ €1387.-) - bold violet resistance line (currently around €1424.-) According 1D, 1W and 1M momentum indicators it looks like Gold is losing its bullish momentum, also RSI and MFI are very overbought on all time frames. (also short-term H4 and 1D at the moment o writing) Therefore, I think Gold will be too week to break through the dashed violet line (~ €1360). Also on the USD chart Gold is fighting with a resistance trend line. Therefore, I think a good short opportunity will arise soon (as soon as stocks go up again) ;-) Furthermore, I have found a “Hanging Man” in the Gold/Silver ratio chart (@1W TF) which is a bearish reversal signal. This means that Gold is losing strength compared silver regardless of FIAT currency manipulations and currency wars. This is a long-term signal and a perfect swing trade opportunity to exchange Gold into Silver. But unfortunately silver is taxed whereas Gold is tax-free in my country. Keep in mind that technical analysis cannot predict exogenous risks. This means when for some fundamental reasons there is a fire sale in stocks markets, then Gold and Silver will rally because these are safe-heaven assets with negative-Beta correlation! Also when Gold is losing strength compared to Silver it can still go higher in terms of FIAT valuation / fake currency. (in a very bullish scenario Gold may hit Fib extension 0.272 which is at €1446! ) I will start to buy PHYSICAL Gold again when it comes near the accumulation zone between €1213 - €1115 in the end of this year or during 2020. In an economic collapse wealth cannot be stored on fake assets. Keep in mind that China and Russia has quadrupled their Gold reserves since 2009! Be patient and do not FOMO. Emotions are a money killer! I´m not a financial adviser. For educational purpose only!
OANDA:XAUEURShort
by PatMoar
3
GOLD/EUR #XAUEUR - short term analysisGold/EUR has built a symmetrical triangle on the H4 TF, but this could also be a bullish pennant. At the moment there is bearish momentum according to the StochRSI on H4 TF which could easily break the yellow trend line of the triangle. Next support is at €1251 and I would set SL slightly below (2-3%). If Gold can maintain this price level more bullish momentum will build up on 1D TF and then Gold could break out bullish. TP1@ €1279.- (slightly below Fib 1.272 extension); TP2@€1295.- (@ Fib 1.618 below violet resistance line). Bearish short-term scenario is that the sym triangle breaks bearish to the downside to the support level at around @1221.- Consolidation will follow but bears will win on higher TFs (check 1W candle stick chart)! Lets see how this will play out... WARNING: I´m not a financial advisor. For educational purpose only!
OANDA:XAUEUR
by PatMoar
XAU/EUR - Sentiment analysisGold has broken the €1245 resistance and has tested Fib 0.786 resistance at €1273.- Sentiment is bullish but has still not reached resistance levels. Also ADX shows that there is still strong bullish power which could lead to short-term raise in Gold price to the 0.888 Fib level (€1322 - 1327). The Dow is currently trying to break through it´s overhead trend-line resistance €27420-27460. If the Dow does not have sufficient strength to brake trough this resistance line then this could lead to an extended rally in Gold. However, latest COT report indicates that commercial traders are already net short and that small / retail traders are net long which is a bearish signal. Next few days will tell us in which direction the DJI is going and what that means for the Gold price. Short-term I´m bullish/neutral, intermediate term bearish and long-term bullish on Gold.
OANDA:XAUEUR
by PatMoar
2
XAU/EUR - long-term analysisGold is in a strong uptrend since the bullish Gartley, WaveTrend oscillator, MFI, RSI and stochastics oscillator indicated a perfect long-entry at around €1000.- on Oct 2018. Price actions shows that Gold is currently in an impulse wave 5 which will end soon and turn into a ABC correction which should find support in the between €1111 and 1070.- in 2020 (Fib 0-618 - 0.786). Price should find long-term support on bullish order blocks which were formed over the past few years between €1100 - 1070 which is a perfect accumulation zone for long-term Gold investors. A short-term long opportunity for swing and day traders could be between 30 MA and Fib 0.5 between €1180 - 1143. Volume profile also indicates HVN @ €1170 - 1155. Short and intermediate term I´m bearish on Gold, however long-term I´m bullish due to the golden cross 50/100 MA!
OANDA:XAUEURShort
by PatMoar
Gold Already Moving to the All-Time-High - XAUWCU leading XAUUSDAfter discovering the World Currency Unit (WCU), essentially a basket of GDP-weighted currencies, and looking into how it was calculated, I realized it would likely serve as a better indicator of the Real Value of Gold & Silver. I've been following this exact chart for a while now; Very interesting how well it's lining up with fib levels, as you can see. I've noticed that almost every unexpected Bull/Bear move that has had no obvious cause (due to news, or technicals on XAUUSD) did have an obvious technical cause on XAUWCU. For example, when considering when Gold broke out of the long term downward trend from the 2011 top: XAUUSD : Jan. 25, 2019 XAUWCU : Dec. 17, 2018 Additionally, when considering when Gold broke out of the long term horizontal resistance dating back to 2013: XAUUSD : June 18, 2019 XAUWCU : as early as June 7, 2018 and backtesting while it waited for XAUUSD to break out.
FX_IDC:XAUWCULong
by liamcambra
3