💡 GOLD💡 Hello everyone, if you like my idea, follow me with likes and comments, I will also try to share the best ideas with you, Always do your own research before opening positions and always put stop limit.
Golddollar
Inflation Correlation: Gold vs. DXY InsightsAbove is an attempt to solve the age-old question of whether or not inflation exists, and, if it does, how much of it is floating around in today's environment?
I like gold because it makes a market that is purely free from exogenous intervention. You can be sure that the changes in the spot price of Gold are reflective of either one or two things:
1) society's demand (typically, lack thereof) for government intervention
2) accounting of monetary supply
But, what I would like to understand is which one of these factors is driving up the price of gold during any given rally. In the chart above, I created a "real-demand" gold price line (orange) that equates as follows: Gold_realdemand = Gold.spot * (100/DXY). Essentially what this does is drown out the effect that changes in the dollar index have on the changes in gold's spot price. The purpose of doing this is not to present a standalone, transformed data series; the orange line in and of itself is only insightful when compared with the normal spot price of gold.
That is, when the slopes of each data series diverge, that is when you can see the relative changes in actual demand.
For example, both major gold rallies depicted in the chart above (white arrow, purple arrow) are actually showing the same thing; gold spot increased because of quantitative easing of some kind. Even if there is a clear margin between the two rising graphs, that does not imply a change in actual demand for gold. Rather, the difference between these would theoretically be "inflation" under this experiment.
Thus, it is better to investigate the downward, bearish periods where divergence occurs in order to get a feel for actual demand in physical gold.
Why?
Because there is never a time when the FED has decreased the money supply, as far as my understanding of the past 10 years goes.
Anyway, just thought this might be an interesting finding given the latest excitement over interest rates.
-GoldDollahPig
TVC:GOLD
OANDA:XAUUSD
TVC:DXY
LSE:XG7U
TVC:XAU
XAU/USD Forecast: Short then longHere is our analysis on XAU/USD
RECAP:
In our previous analysis Gold was trading at $1810
We expected the pair to be bearish & trade back in the $1790-$1780 range
and that's exactly what the pair did.
The pair hit lows of $1783 triggering our Sell Stop at $1800 and hitting TP at $1790
enabling us to bank 200 pips on Gold
WHAT TO EXPECT:
Currently Gold is trading at $1793
Gold is still bullish long term, but short term we expect it to be bearish
We expect gold to touch that $1780-$1760 level before a bullish reversal
US10Y is currently limiting gold's bullish momentum.
If gold manages to break above strong resistance at $1815 we expect it to test next resistance at $1830
OUR POSITIONS:
Currently at $1792
Buy Stop @: $1820
Buy Stop TP @: $1830
Sell Stop @: $1780
Sell Stop TP @: $1770
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
XAU/USD Forecast: ShortHere is what tp expect on Gold
RECAP:
In our previous analysis Gold was trading at $1786
We expected the pair to be range bound between $1790-$1765
The pair did dip below the $1765 mark before going back to $1770 zone
Yesterday the pair managed to break above $1790 and triggered our buy stop at $1795 and hitting our TP at $1805
which we set in our previous analysis, banking 200 pips on Gold
WHAT TO EXPECT:
Currently at $1813
Gold is currently trading at support/resistance
Bearish harmonic pattern formed on the 1H chart (formation might extend)
COT report showed -5k longs closed & +10k shorts opened on Gold last week
So gold, might still be bearish
If the pair struggles to break above current support/resistance we expect the pair to go back to $1790-$1760
On the other hand if the pair breaks above current support/resistance we expect it to test next resistance at $1830
OUR POSITIONS:
Currently at $1813
Buy Stop @: $1820
Buy Stop TP @: $1830
Buy Stop TP 2 @: $1850
Sell Stop @: $1800
Sell Stop TP @: $1790
Sell Stop TP 2 @: $1780
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1875.15 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1855.50 on 02/10/2021, so more losses minimum to Major Support (1762.05) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 37.
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💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1875.15 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1855.50 on 02/10/2021, so more losses minimum to Major Support (1762.05) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 37.
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XAU/USD Forecast: LongHere is an update on XAU/USD
RECAP:
In our previous analysis XAU/USD was trading at $1788
We expected a reversal after a bullish harmonic pattern had formed.
We cautioned of a high possibility of a further move to the downside and this is what happened.
Gold reached lows of $1769 triggering our Sell Stop at $1780 and hitting our TP at $1770 banking 200 pips over 20 positions on this trade order.
We had an active sell order which we noted in our previous analysis which we had opened at $1810 which we also closed at $1770. In total we banked 1000 pips on Gold.
WHAT TO EXPECT:
Currently Gold is trading at $1786
Bullish Harmonic pattern has extended to $1770
Gold is currently struggling to break above $1790-$1785 range which was previous support for the pair.
A break above $1790 will create a chance for Gold to go back to $1800 and try to break resistance at $1810.
If Gold fails to break above $1790 we might see it being range bound between $1790-$1765 before a further move to the downside.
A break below $1765, will allow the pair to test $1750 resistance/support level of June 2020
OUR POSITIONS:
Currently @ $1786
Buy Stop @: $1795
Buy Stop TP @: $1805
Buy Stop TP2 @: $1820
Sell Stop @: 1760
Sell Stop TP @: $1750
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Gold $1650XauUsd Broke the trend line and very close to break the November low. If that happens very likely is heading to $1650.
Gold - Dump & PumpI think price will hold up around 1824 / 1834 before the bear comes in.......
The bear will come in first, before we start seeing the BULLISH run
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1875.15 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1876.20 on 01/29/2021, so more losses to support(s) 1790.00 and minimum to Major Support (1762.05) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 40.
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💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1875.15 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1876.20 on 01/29/2021, so more losses to support(s) 1790.00 and minimum to Major Support (1762.05) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 40.
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💡 Don't miss the buying opportunity in XAUUSDMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1902.60 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1802.00 on 01/18/2021, so more gains to resistance(s) 1875.15 and maximum to Major Resistance (1902.60) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 46.
Trade Setup:
We opened 6 BUY trade(s) @ 1836.93 based on 'Hammer' entry method at 2021.01.18.
Total Profit: 9052 point
Closed trade(s): 3822 point Profit
Open trade(s): 5230 point Profit
Closed Profit:
TP1 @ 1875.15 touched at 2021.01.29 with 3822 point Profit.
Open Profit:
Profit for one trade is 1847.39(current price) - 1836.93(open price) = 1046 point
5 trade(s) still open, therefore total profit for open trade(s) is 1046 x 5 = 5230 point
Take Profits:
TP1 @ 1875.15
TP2 @ 1902.60
TP3 @ 1931.40
TP4 @ 1965.50
TP5 @ 2075.05
TP6 Free
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💡 Don't miss the buying opportunity in XAUUSDMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1902.60 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1802.00 on 01/18/2021, so more gains to resistance(s) 1875.15 and maximum to Major Resistance (1902.60) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 46.
Trade Setup:
We opened 6 BUY trade(s) @ 1836.93 based on 'Hammer' entry method at 2021.01.18.
Total Profit: 9052 point
Closed trade(s): 3822 point Profit
Open trade(s): 5230 point Profit
Closed Profit:
TP1 @ 1875.15 touched at 2021.01.29 with 3822 point Profit.
Open Profit:
Profit for one trade is 1847.39(current price) - 1836.93(open price) = 1046 point
5 trade(s) still open, therefore total profit for open trade(s) is 1046 x 5 = 5230 point
Take Profits:
TP1 @ 1875.15
TP2 @ 1902.60
TP3 @ 1931.40
TP4 @ 1965.50
TP5 @ 2075.05
TP6 Free
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XAUUSD longGold gained 1.17% following weakness in the USD due to risk-on momentum.
Broke above recent highs and now showing signs for further momentum to the upside towards the 1900 mark.
💡Don't miss the great buy opportunity in XAUUSDTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (1851.58).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 71.
Take Profits:
TP1= @ 1877.50
TP2= @ 1887.81
TP3= @ 1902.33
TP4= @ 1928.23
TP5= @ 1960.00
SL= Break below S2
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💡Don't miss the great buy opportunity in XAUUSDTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (1851.58).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 71.
Take Profits:
TP1= @ 1877.50
TP2= @ 1887.81
TP3= @ 1902.33
TP4= @ 1928.23
TP5= @ 1960.00
SL= Break below S2
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Gold to move higher Gold saw profit taking since the second week of Jan bringing to 61.8% to find support and on top of resistance of previous resistance.
From here we are expecting some inflationary hedging to take place as well towards the upside towards 1900
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1902.60 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1762.05 on 12/14/2020, so more gains to resistance(s) 1875.15 and maximum to Major Resistance (1902.60) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 40.
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💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1902.60 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1762.05 on 12/14/2020, so more gains to resistance(s) 1875.15 and maximum to Major Resistance (1902.60) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 40.
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💡💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1902.60 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1762.05 on 12/14/2020, so more gains to resistance(s) 1875.15 and maximum to Major Resistance (1902.60) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.
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💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1902.60 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1762.05 on 12/14/2020, so more gains to resistance(s) 1875.15 and maximum to Major Resistance (1902.60) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.
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. . . . . Please show your support back,
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ForecastCity English Support Team ❤️
💡Don't miss the great buy opportunity in XAUUSDTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (1896).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. Gold/Dollar is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 63.
Take Profits:
TP1= @ 1965
TP2= @ 2007
TP3= @ 2075
TP4= @ 2149
TP5= @ 2250
SL= Break below S2
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