XAUEUR trade ideas
Gold seeks a breakoutPrecious metal price in Euro is set to re-test the 23.60 retracement level again in a bid to break out of the triangle-shaped formation. If the price persists above that line, we will follow 1365. The second upward target in that case will be 1368 that corresponds with the 38.20 retracement.
Euro gold re-testing breakdown with head and shoulders topSomething is happening. Dollar gold is stronger than euro gold. Maybe a big euro reversal?
Euro gold has broken down and ready for a tumble to 1280But dollar gold held support and going higher.
Euro gold head and shoulder top projects to 1275Gold in dollars doesn't show the same topping formation.
Euro gold barely holding onCoinciding with Draghi putting away the bazooka. He doesn't have the votes to fire it. Dollar gold will take over the bull reins from Euro gold.
Euro gold's last line of defenseIf 1360 breaks, euro will outperform the dollar (dollar gold will keep climbing).
XAUEUR Year-end SHORT Here we can clearly see the pair may just done w/ the tantamount 3 months rallies... Now would be opportune time to start gathering shorts, if gold equals inverse real rates, is it any surprise that EUR price of gold is at an ATH? if inflation does drop as EU heads into recession, real rates will rise, suggesting that the peak in gold prices may be near.
#Gold #XAU/EUR - GOLDEN CROSS approaching (long-term analysis)A very rare extremely bullish signal on the 1M chart of #Gold - a GOLDEN CROSS (50/100 MA) is approaching on Gold/EUR chart which will cross beginning or mid Sep 2019.
(Note: On the USD chart the cross will occur approximately 1/2 year later)
This is one of the biggest bullish signals and which can indicate an extended bull market for the next 10 years!
However, nothing goes up in straight lines. There will be pullbacks which you can use as investment opportunities.
I´m not a financial advisor. For educational purpose only!
#Gold/EUR #XAUEUR - short / intermediate term analysisGold has broken out of its resistance trend line (yellow doted line) which will soon be tested as new support.
On H4 TF there is bearish momentum on StochRSI and wave trend oscillator which will bring the price down again to the yellow doted line.
Bullish momentum on 1D TF has built up (see StochRSI, and bullish crosses on wave trend oscillator and MACD) which should be strong enough to bring Gold to new highs soon in the short-term (yellow arrow). Note that we are near the distribution zone which is between €1300 - 1387!
Day traders can wait for bullish momentum on H1 & H4 TF and set their entry near the yellow line for a long.
Swing traders which should have already bought gold can set their TP1 slightly below the distribution zone (~ €1295), and TP2 inside the distribution zone.
In a few week short opportunities will arise on higher time frames (1D, 1W chart).
Sentiment is also already approaching risky levels for gold investors.
However, looong-term I´m very bullish due to the 50/100 MA golden cross on the 1M chart which will come in Sep 2019!
I´m not a financial advisor. For educational purpose only!
#Gold/EUR #XAUEUR - intermediate/long term analysisDue to fundamental reasons (trade tariffs, sudden currency devaluation of the Yuan and stock market crash) impulse wave 5 of Gold has broken through the blue doted resistance trend-line and is near its ATH (Gold/EUR chart).
However, there are 3 other strong resistance lines:
- dashed violet resistance trend line (currently around €1360.-)
- horizontal ATH resistance line (~ €1387.-)
- bold violet resistance line (currently around €1424.-)
According 1D, 1W and 1M momentum indicators it looks like Gold is losing its bullish momentum, also RSI and MFI are very overbought on all time frames.
(also short-term H4 and 1D at the moment o writing)
Therefore, I think Gold will be too week to break through the dashed violet line (~ €1360).
Also on the USD chart Gold is fighting with a resistance trend line.
Therefore, I think a good short opportunity will arise soon (as soon as stocks go up again) ;-)
Furthermore, I have found a “Hanging Man” in the Gold/Silver ratio chart (@1W TF) which is a bearish reversal signal.
This means that Gold is losing strength compared silver regardless of FIAT currency manipulations and currency wars.
This is a long-term signal and a perfect swing trade opportunity to exchange Gold into Silver. But unfortunately silver is taxed whereas Gold is tax-free in my country.
Keep in mind that technical analysis cannot predict exogenous risks.
This means when for some fundamental reasons there is a fire sale in stocks markets, then Gold and Silver will rally because these are safe-heaven assets with negative-Beta correlation!
Also when Gold is losing strength compared to Silver it can still go higher in terms of FIAT valuation / fake currency.
(in a very bullish scenario Gold may hit Fib extension 0.272 which is at €1446! )
I will start to buy PHYSICAL Gold again when it comes near the accumulation zone between €1213 - €1115 in the end of this year or during 2020.
In an economic collapse wealth cannot be stored on fake assets. Keep in mind that China and Russia has quadrupled their Gold reserves since 2009!
Be patient and do not FOMO. Emotions are a money killer!
I´m not a financial adviser. For educational purpose only!
