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XAUAUD trade ideas

GOLD/AUD - $2,800 Fib Target Within SightQuick update on GOLD/AUD We appear to be chugging along in a relatively undisturbed uptrend, the Fib extension targets from the April-August 2019 wave higher are pitching a potential point of resistance at the $2,800 mark as this coincides with the 1.27 extension. With a potential overshoot to just shy of $2,900 (based on Keltner channel targets) Technicals: ~ Macd is bullish and is crossing above on the daily ~ Daily RSI appears to be congruent with the move higher, with no significant divergences, the monthly RSI however, is quite overbought at press time, but is confirming the higher highs ~ Price recently checked in with the 50 ma, so there is still ample room to move higher before a more substantial pullback ~ Price appears to be respecting the 21 ema ~ Looking to the monthly, price has come quite detached from the 10 period ma, suggesting that some mean reversion is on the cards, either by way of price falling, or a period of consolidation to allow the moving averages to catch up Overall GOLD/AUD is performing very well and looks set to continue higher, at least to the $2,800-$2,900 range, at that point i would expect some selling pressure which could prove to be an ideal entry point -TradingEdge
OANDA:XAUAUDLong
by Profit_Link
Ascending triangle and two possible outcomesAs we can see, Gold is currently nearing the end of a tightening range which will most likely result in a large move either upwards or down. We recently saw a false break reaching all the way to the 2692 level before promptly returning back to the triangle. Should we happen to fall down from this triangle, i will be targeting the Fibonacci golden pocket at 2510 approx. On the other hand, if we experience a breakout then I will be going long with an initial take profit set at the recent high of 2692. Either way there is huge potential in the days to come, good luck everybody!
FX_IDC:XAUAUD
by kuroSoraFX
2
AUD dying a slow death against real moneyXAUAUD - This has to be the most telling of all sorties of all. While everyone continues to pile into trendy tech stocks operating in crowded consumer markets, harbouring astronomical debts, that make no profit, with PE ratios higher then Cheech and Chong. At the same time the unloved boring gold sector with low PE ratio businesses, no debt, free cash flow and cash reserves finally showing signs of life. Gold tells the story of a slowly dying monetary system poised to give the retail investors one last f**k you. Where will you be on the next bank holiday? How did you go broke?..Slowly. Then all at once.
OANDA:XAUAUDLong
by b_goleman
2