XAUEUR trade ideas
Gold/EUR forming head-and-shoulders on hourly chartAny out there who wants to short gold, consider XAU/EUR. It seems to be creating a head and shoulders pattern on the hourly chart.
EUR/USD's daily chart is flashing bullish conditions. Meanwhile, markets have already priced in three Fed rate cuts for 2019. So upside in Gold ($) looks limited. Hence, GOLD/EUR looks overdue for a price pullback.
A break below the neckline support of 1181 would open the doors to 1170-1165.
Inverted H&S in XAUEUR Testing 1170Inverted H&S in XAUEUR Testing 1170.
Also Bullish MACD Divergence.
AXUEUR SHORT POSITION IDENTIFIED ON CHANNEL UPSell analysis above.
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Xaueur Just hanging out there for a huge dropthe latest news spiked gold for a few days but the market forces do not go on news.
short gold with Eur may be even a better option than with Usd. this latest rally really just made a great sell opportunity. drop to 1127 would be latest support but imo we slice through that to 1117 on the down channel. second target 1100 than 1080. place a stop at the three week high. safe trading everyone will win some and lose some but protect and risk only you are comfortable with.
Bullish breakout - Gold EURPrice is lingering around the current month high and its close to prior month high.
Two days ago there was a nice move to the upside much larger than any move in several days.
Limit order set to breakout of box drawn.
Stop loss and risk determined based low of thrust bar. You can manage the position as it develops in case you don't want to take a full 1 R loss.
0.5% risk
OANDA:XAUEUR
Gold - A Useless Rock, Barbarous Relic, No Yielding AssetHowever since 2009 and before you can see that in all major currencies gold has acted as a protection hedge against inflation and depreciation of these currencies. Definetely not a short term trade but one for the long haul and from the charts it is clear, the blow off top has not occurred yet.
Bullish Gold EURPrice leaning against downward trendline
Downtrend has been weak. Could be a good point of inflection.
Bullish bias based on higher time frames.
Entry is aggressive on breakout of box drawn - lots of price action above current level. Anticipating clean move up otherwise keep this one on a short leash.
Better setups coming to upside potentially.
0.5% risk per trade of 1% if you're feeling lucky
Bullish break of structure - GOLD EURLong on breakout of bullish area - potential for tighter stop on 4hr chart. Review 4hr chart for weak pullback and smaller breakout window
Anticipated bullish setup - GOLD EURAnticipating a bullish setup on GOLD EUR
Price coming off prior month low.
