XAUUSD Short Term IdeaTechnicals self-explanatory on chart, following the same strong USD bias I have over the next while...
Goldfundamentals
GOLD SUPER LONG-TERM SCENARIOS EXPLAINED GOLD is unstoppable right now and is soon to storm the 1800 key level.
The only question is- what we get to see:
1- An optimistic scenario, drawn with a green line, where there is a retest of support after a breakout towards 1900, and then a strong move up into the 2300/2500+ in 2-3 years.
OR
2-A pessimistic scenario, drawn with a red line, where the breakout turns out to be a false one and GOLD returns below the 1800 level and gets stuck in there for another accumulation period for another 5-10 years.
It is clear by now, that the general uptrend will continue and that a super long term outlook is certainly bullish, but just how bullish is a question for 8 trillion dollars, which is the current total gold market cap.
It is clear that the 1500 level is the new absolute bottom, and that we will never see gold cheaper than that again, so should gold choose the second scenario then buy near 1500-1600 level.(unless Earth isn't hit by a massive asteroid full of gold anytime soon)
An example of what trading will look like in a pessimistic scenario can be seen in the blue rectangle around the lower accumulation zone.
The fundamentals beyond the gold growth are the usual culprits: central banks printing money, fears of inflation, the increased demand for a safe haven other than dollar, negative rates and, possible stagflation.
There is a remote potential for the gold to come back as a funding vehicle, when people, companies and states will be borrowing and transacting in gold. That would have us see gold=10.000 and more.
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Wish you all good luck in your trading!
Hand Sanitizer + Facemasks + Precious MetalsA bit concerned. I dismissed claims that silver would not be available when the time came but tonight, I've just noticed apmex.com (a top online retailer for precious metals) has now listed many of the top selling 1 OZ SILVER BARS as PRE-SALE ONLY. AKA SOLD-OUT. Then I checked the smaller sub ounce gold coins. Same story.
Wonder what happens next?
FOREXCOM:XAGUSD TVC:SILVER TVC:GOLD OANDA:XAUUSD OANDA:XAUEUR FX_IDC:XAUCNY OANDA:XAUJPY AMEX:JNUG AMEX:JDST AMEX:GLD AMEX:GDXJ AMEX:GDX AMEX:BTG NYSE:GOLD AMEX:NGD FX_IDC:XAGUSD AMEX:SLV
BUTTERFLY BULL ON H1, H2 & H4 |HARMONIC + FUNDAMENTALS + TECHThis butterfly pattern seats in a pretty comfortable support and resistance zone with a somewhat visible ascending head and shoulder formation. So I have picked my entry points as you can see but remember to watch the fundamentals.
Here are the fundamental factors to keep in mind on Gold:
-Australian ANZ Job Advertisements
-Australian TD Securities Inflation
-Australian Inventories and Company Operating Profits
-Japanese Consumer Confidence
-US Factory Orders
-UK Markit/CIPS Construction PMI
-Eurozone Sentix Investor Confidence
-Eurozone PPI
Good Luck
