CitRoN_RouGe

CitRoN_RouGe

Just a close look and simple observation.....

CitRoN_RouGe

I use ellipse analysis for long-term positions. This geometrical analysis is quite simple but usually gives good results. Basically, it is as follows: - Mark Point.1 as the start point of ellipse. - Mark the first following swing point as Point 2. - Then mark the following second swing point (which is opposite of Point.2) as the Point.3. - Since 3 points may...

CitRoN_RouGe

Here is just an experimental study if we draw inclined Fibonacci levels and stretch the prices to reach 100% Fibonacci retracement. assuming the cycle closes almost perfectly...

CitRoN_RouGe Updated 

On hourly chart: Stochastic is approaching oversold area. If rebounds back from this area and if candlesticks show that EMA50 would work as support again, a good opportunity for a short-term long positioning. Buy around 1336 - SL 1332 & TP 1348. Risk-reward ratio 1:3.

CitRoN_RouGe

Break-out of 1337 level still not confirmed yet. Price climbed up to 1344 but returned back to 1337 again as of now. Either we will see an upward reaction from here (opening the way to 1375 - June.2016 highs) or yesterday evening's price action will show a fake-out. On the 4H RSI chart, a symmetrical triangle is forming (with RSI diverging from price). If not...

CitRoN_RouGe Updated 

Here are two ideas I will seek till ECB press conference on Thursday. I expect price to range and consolidate between 1300 and 1340, so I consider 1335-1340 as a sell region and 1300-1305 as a buy region.

CitRoN_RouGe

US 10Y bond yields are at a critical support point. If broken, downward move might accelerate. Upper consolidation zone is almost complete, there remains only a small contraction area before break-out (either downwards or upwards). Comparing the current US 10Y bond yield and gold_ price levels with those of 8th November 2016, gold_ has recovered to day-one-value...

CitRoN_RouGe

The gap closed but with a pin on the hourly chart. It seems that 1337 level is being tested again. This might be a quadruple top formation if 1337 level shows reaction once again. The descending lower highs on RSI indicator also to be noted.

CitRoN_RouGe

Buyers are in strong control of gold_ market since July. Sellers did their best to reverse the trend, but the results of the events supported upward price action at critical times. Today we have a daily opening with gap, 1337 resistance might be the 5th opportunity of sellers to change the trend. Maybe by the help of a possible dovish ECB this week??? (I...

CitRoN_RouGe

Since 2015, I marked the 93-93 region as the market's most pessimistic standpoint on USD. We saw reversals from this band three times before and each time with similar market psychology. Apparently, this time is no different than the others. USD index 92-93 level might again be a good opportunity to buy the dips. As it happened before, we need a driving event for...

CitRoN_RouGe

I hope this week will be the big week for AUDUSD after a consolidation period of almost a month. I noted the important events to watch as: Tuesday - RBA monetary policy decision Wednesday - Australian GDP data release Thursday - ECB monetary policy decision Friday - Speech of RBA Philip Lowe At this moment the trend is upwards for AUDUSD with little signs of...

CitRoN_RouGe

All depends on strong return back of USD starting from this September (which I expect)... Case (1) - A triple bottom formation is about to be confirmed. Most probably pricing just above 112 would ensure upward rally, and the ordering of moving average lines has to come in correct position. Case (2) - Price may drop back to 108-109 band and may bounce back from...

CitRoN_RouGe

Taking 1st of January 2015 as the starting point, I overlapped gold prices and US10Y bond yields to review the correlation between these. The scales are by percentages taking 2015/01/01 level as zero point. The correlation is apparent as we know about it. I noted two points in this chart: (1) The correlation cycle is diverging since the beginning of year 2017....

CitRoN_RouGe

Here I tried to recall the events affecting gold prices since 25th of August. What is surprising to me are "the breakout of 1300 psychological resistance" and "the unexpected price action of today". Beginning of next week might be another surprise. Today US data was quite terrible, but USD index and and US bonds appreciated contrary to expectations. I figure out...

CitRoN_RouGe

Just another roller coaster afternoon :((

CitRoN_RouGe

Going back two years before, we saw the 1050-1370 rally in 2016 which retraced back to 1120 (Fibo 78.6% level) and bounced back upwards. Further, considering the 1370-1120 downward leg, Fib 78.6% level corresponds to 1320_ (where we are now). This level is serving as resistance. If 1320-1325 band is broken, this will cancel the Fib retracement effect of 1370-1120...

CitRoN_RouGe

On the 4H chart, I reviewed the latest consolidation ranges following the differential spikes of gold. This week the price began to range between 1300 and 1325. Now a double top formation is beginning to form, but first we need to see that 1325 level not exceeded. If confirmed, we can talk about a possible bounce back to 1300 soon once again. I consider 1300 level...

CitRoN_RouGe

The psychological resistance level of 1300 is under test recently. Either we will continue to name it as the "popular resistance of 2017" or it will serve as a support level maybe for months or even years. If we are to talk about the 1300 resistance again, price shall fall well below 1300 level next week at the latest. Otherwise it might be too late. The price may...