Gold Already Moving to the All-Time-High - XAUWCU leading XAUUSD
After 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:
Additionally, when considering when Gold broke out of the long term horizontal resistance dating back to 2013:
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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.