For this scenario, I have only one condition: *** Until March 2020, no break and close below 106 on a monthly basis. If you are still alive and acting in the year 2027/28, you could aim for approx. 7300 P with short on the top (146.28). If this view is proven over time, then gold falls below $ 950.
Here at TV, the August 2015 low has not been broken yet (0.8270), but it has already happened on my chart. On a weekly basis, wave 3 of the 5, of the blue c is currently underway, which could sink to 0.81712. So seen, we need to wait until waves 4 & 5 are finished, but then it would be possible to go long and stay long until the end of this year.
I would say second week in October it could be so far = long!
If there is a rebound to 1.8276 in a few days, then I look for short with TP @ 1.7954
For temporarily rising prices, we need break and close - on a weekly basis - above 0.68622, otherwise the first closing price (weekly) below 0.6724 leads to lower prices.
Here I see 2 possibilities: a) Gold rises above the last high and in October reaches 1586.44, which I would see as the year high b) rises to 1549.32 (1554.68) to form the wave b, but then falls to 1404.45 where the c would be finished. In variant b, both: SMA 50 & Kijun should be achieved and then bounce upwards. Wave c would confirm closing price (on a weekly...
UP with TP @1.1048 DOWN with TP 1.0946 100 P
Condition for this option is only one: in October no closing price under 55 $. On the other hand, if we see break and close below 55, then next targets would be down 45.5 & 33.86.
In this concept, I still leave open whether the orange d is already finished or in October.
Short at the end of September or the beginning of October.
Hello Tredars, the next few weeks I expect movement between Tenkan and Kijun on a weekly basis. If not before, then at the latest in December (or January), SMA 50 could be reached and act as a support, which, if confirmed, would lead to higher prices within 6 months. TP is at 16912 & 17169.
In August, I expect a HH on a monthly basis. Latest in September threaten sharply falling prices. This development can help to guide the movements in the EURUSD.