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XAUEUR trade ideas

#Gold/EUR #XAUEUR - intermediate/long term (bullish scenario)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!
OANDA:XAUEUR
by PatMoar
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