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GOLD/AUD

Gold analysis XAUUSD Hey guys! Below is an analysis of gold that I've decided to update from my previous posts. Points that are non-TA: - Golds looking strong with recession fears going through the roof and Trump having a constant affect on the value of gold causing a 52 week high to be reached in the last 2 days. - Expecting more trump hits which should send gold prices higher as more people run to gold to invest their money. TA points: - Gold has entered a channel for the past 3 months with a strong bullish uptrend - Gold is now well above 21 day and 50 day EMA, presenting a strong bull market - broke downwards from a previous bear flag and caused a massive breakthrough due to recession fears. - could be replicating this with another bear flag forming. If it forms this will see a pull back down to near 1480. Then a bounce off should occur. However, I feel this won't occur due to trade tensions rising more and more recently, causing gold prices to surge. Overall, very bullish market in the mid term (6-9 months)
FX:XAUUSDLong
by brendan_ellich
GOLD bearish signs - look for $1346 - 1400 to be supportThanks for viewing, Overall I remain bullish on gold and silver, however, I am looking for a pull-back to add to my position. We may be looking forward to new all time highs in USD terms (gold has recently reached new all time highs in over 70 national currencies including first world western economies; e.g. AUD, NZD, CAD, Norwegian Krone). There are strong fundamental forces pushing gold up at the moment, such as a weakening USD, lowering interest rates, equity market volatility (the NYSE has been in a bear market for the past 20 months), global growth concerns, considerable global debt concerns, and increasing geopolitical uncertainty. This is the sort of environment that gold does well in. As you can see from the chart, I am expecting a pull-back before gold continues up to between $1560 to $1746 (and possibly higher) in the next few months. As stated, I expect $1346 - 1400 to act as strong support around the 200SMA / break out as there is a minor shake-out before higher prices are set. Why do I expect a pull-back? - As a big believer and user of Elliot Wave principle, I expect a wave (4) correction before the next push. Wave (4) corrections tend towards complex corrections, and are common places to see triangles, these corrections can take some time to complete. - RSI divergence; I have labelled some areas of marked RSI divergence S, T, U, V (RSI divergence just highlights areas of declining momentum and possible turning points - as you can see, it is often quite accurate); - S shows moderately strong bullish divergence, - T, and U show strong bullish divergence, - U shows strong bearish divergence - indicating a possible upcoming area of consolidation. I am not sure if it will go as low as 1346.75 (wave (1) peak, but it may. From industry sources, gold and silver are more and more scarce and retail buyers are expecting much higher targets before considering selling. Good luck everyone
TVC:GOLDShort
by flyinkiwi10
Gold new all-time high in NZD termsThanks for viewing, After last weeks unexpectedly deep 50 basis point cut by the RBNZ the NZD has lost ground against USD www.ft.com Against a back-drop of a very bullish gold/USD price this has resulted in gold breaking its 2011 all time high. I get the feeling that the a new monetary easing policy (QE4?) is around the corner from the Fed, so we are at the start of a new easing cycle. If we are at 1% rates (this is a negative real interest rate. Inflation is 1.9% presently tradingeconomics.com) at the start of an easing cycle, then negative (nominal - not just interest rates below inflation) interest rates are a very real possibility. We may be approaching a time in New Zealand that it will be much more prudent to keep your cash in a safe, instead of paying banks to hold it for you. This happened in Japan and can happen in Australia and New Zealand as well: www.scmp.com Remember that the RBNZ holds no precious metals (bulk sold in 1960s and the balance sold in 1991) and all of its assets are foreign currency cash assets www.rbnz.govt.nz Expect all of those cash assets to reduce in real purchasing power while gold continues to climb. Protect those funds everyone.
OANDA:XAUNZD
by flyinkiwi10