2021-11-17 XAUNZD - breakout areaConsolidation at resistance is possible maybe a shallow pullback. Further corroboration of strength of gold against other currencies
XAUNZD trade ideas
2021-07-14 XAU NZD - swing highNice inverse head and shoulders. Looking for breakout of last swing high
2021-06-30 XAU NZD - supportAnother XAU pair forming inverse head and shoulders.
50% retracement of last swing up.
3 Pushes to 50% retraceHere we see price has advanced in 3 pushes, exactly 50% of the previous move. It's also inline with the 2x1 gann fann which we could use as a trailing stop loss.
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.
XAUNZD head and shoulder1) previous nice move UP
2) nice resistance zone
3) Head and shoulder
... i am just waiting for right structure H4/D1 for short..
XAUNZD H4: Trending UpHere are the key points for this chart of XAUNZD:
- Trend. I find the trend up.
- Support. The falling price found support on the prior sloping resistance line at about 1800. There are minor support levels on the lower parallel at about 1790 and on the black trendline, just above the prior major high and the Fib-38.2% level (about 1760). I find the key major support level at the highs of the bottoming bars and the Fib-50% level: at about 1717.
- Resistance. Price may find first resistance at 1862. Next, if current high at 1886 fails to hold, I'd expect another resistance somewhere along the blue upper border of the channel, potentially at 1900.
- Trading opportunites: long entry at one of the support levels, with a stop-loss order below some prior low, looking to exit at some of the resistance levels with R:R of at least 1:1.
Here's the summary of how I see the current situation in financial markets (as of 16.02.2016, 16:00 CET):
The strongest currency: JPY (still strengthening).
The weakest currency: GBP (still weakening).
The leading markets:
- XAUGBP - trending up;
- XAUNZD - trending up;
- XAUEUR - trending up;
- NZDJPY - trending down;
- West Texas Oil - trending down;
- Natural Gas - trending down.
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Disclaimer:
There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell. Rather, you should use the information only as a starting point for doing additional independent research, your own due diligence, in order to allow you to form your own opinion regarding trading decisions. No assumption should be made in relation to the performance or accuracy of the methods shown. No claims are made as to the success or profitability of any of my posts.
XAU/NZD UPDATE Overall Gold looks pretty bearish against Kiwi as well. T.L Resistance from December 8th remains intact.As long as Price remains under it.Look for selling opportunities.Currently we are very close to the 61.8% extension of the move that started from 8th of December. We could see some consolidation here and perhaps retrace higher before breaking lower further , However on a clear close under the 1550 mark.It's still not a bad idea to go short with targets of 1536-1524
