Gold in EUR,weekly, short, target ~640 EUR/OzIdea: 2 identical drives lower. That would imply EUR/USD to test 1.20- 1.22
XAUEURK trade ideas
GOLDEURO-nice long opportunityEverybody is looking at USGOLD now, here i found a clear long term opportunity to buy gold.
This setup is also supported buy Elliott Waves but i think the technical analysis is enough.
Looking at W1 chart we have:
- Price bouncing from trendline support
- 0.61 fib retracement
- bullish hidden divergence
- AB=CD pattern (weekly)
Here on D1 chart:
- bullish divergence
- another AB=CD pattern
- strong structure
- typical false breakout (this setup offers a R/R at least 1 to 2)
- engulfing bullish candle
- 1.61 fib projection
Best regards.
