XAUWCUGold now is in major trend line going down(decending channel).
We are expecting it continue falling, watching this week how the price will react to the suport level 1173.94.
Share your opinion with us, and trade safe)
XAUWCU trade ideas
Gold started an uptrend in 2018 with strong accumulationRecent SPX500 dump & 10Y yield downtrend can push gold to any uptrend
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.
Gold in a currency basket: Buy nowFor Gold against a currency basket the buy signal is now... in USD it should come a bit later....
Gold in currency basket: failure everywhereWe are about to enter long term trading region. There is currently more downside potential than up. Frustrating Chart.
XAUWCU -GOLD / WORLD CURRENCY UNIT -SELL GOLD IS IN FALLING CHANNEL
ASSUME RETEST LAST LOWS
RSI OVERBOUGHT
Gold: Support Resistance Ping-PongJust a view on Gold against a currency basket. This months low should be in. Reasonable to start a long. On break of support the different way...
Gold: Waiting on break of resistanceGold against a currency basket just got to a cross resistance... On break one should definitely go long.
Gold: Breaking out of descending triangleWorth having a look at Gold in a Currency Basket. After breaking 50 day MA beginning of the week, yesterday we broke the bottom of the descending triangle. Clear short! Seems in USD same will happen.
Gold: Fib TZ suggesting a major moveWith motif completion (on 4h Chart) and TZ Analysis I suggest a major move back to pre-Brexit Region. Move starting today/tomorrow/Wed.
Gold: correction aheadAfter my last weeks target has been reached, I am waiting if we get a breakout. With GDX/HUI not following Gold and DXY rather going upwards, I expect Gold (in XCU) correcting back to the Neckline of the double top. With this correction a Head and Shoulders Formation of XAUUSD will also be finished.
Gold: postponed correction but not yet cancelledLast Fridays Payroll data were "some bit" of surprising. But any 5 sigma deviation should be.... The probability of a rate hike in June was discussed to be back to 0% so DXY was tumbling "a bit", JY strengthening, Gold rising and GDX/HUI exploding to the upside. Well, is this reasonable ? With Fib-TZ analysis last movement was anticipated, but in the different direction. With a reduction of 30% (net short %) of JY and COT Index rising this movement is some bit of surprising. I will certainly change my mind if we get above my max. Target, but till then I have the impression that someone want's to shake-out the bears....
Gold: Failed again. Short more reasonable than longGold against a currency Basket is trading since Feb/Mar within my suggested trading range (see chart attached). Following Points make me bearisch again:
1) Failed BreakOut out of LT Resistance and upward channel
2) We see lower Highs
3) COT Positioning extreme
Within last years it was always a good decision sell within the "Sell Region" (red) and buy in the "Buy Region" (green). Till we see a BreakOut (above 885-890) we have NO reason to believe in a new BullMarket. A correction back into the 780-800 Region seems to be more and more likely. With extreme COT Positioning even a "cascade selling" till the lower boundary may be possible but with the strong physical demand unlikely.
Head and Shoulders in XAUXCU: Target 800 WCU (NOT US$)Nice Head and Sholders Formation in XAUXCU. XAUUSD should follow soon... CB influendced Markets semm to be short living (I hope)...
Thinking about retirement....I really love our free markets where price discovery is only influenced by supply and demand issues and not by CB decisions... But CB's decisions (how did JY say) are always TRANSITORY.... And GAPS will be closed...
Head/Shoulders Formation completed: Short GoldGold against a currency basket just completed a Head & Shoulders Formation. Support line broken (blue)... Expecting correction till at least 825-830. I would appreciate some bit more to get a little bit steam out, but....
Dangerzone ahead: Short GoldSorry to disturb the bulish feeling, but it is alwasy reasonable to check Gold against a currency basket and not just US$. We are now in timerange and pricerange as I suggested last autumn. We had a high volume surge we haven't seen since 2011 and the bullish feeling people have is certainly justified! BUT as a perma Gold bull I also learned to be realistic. We are currently at the upper Resistance of our tradigrange and RSI, Stochastics and Choppiness look terrifying! Each time we had similar data, we had a correction! So expect another one these days!
