Here are the key points for XAUEUR: - Trend. I find the trend clearly up; the breakout from the long-term bearish Schiff Pitchfork seems to confirm it. Price seems to have switched from the down sloping fork to the up sloping one. The deviation from the black trendline is a sign of trend's acceleration. - Support. The falling price has found support at the upper...
With a doubtful outlook on the world economy, people are seeking refuge in gold. I already bought some gold at 972eur, and looking to enlarge my position around 1050-1060.
Price Patterns: "Bat" The Bat Pattern, is a precise harmonic pattern discovered by Scott Carney in 2001 The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection. In...
I expect correction on gold price in EUR.
Conditions for Head and Shoulders . Still ECB meeting will set the major direction
exit before the fed meeting.
If the cycle repeats itself... As ECB is expected to continue the monetary easing
Idea: 2 identical drives lower. That would imply EUR/USD to test 1.20- 1.22
Everybody is looking at USGOLD now, here i found a clear long term opportunity to buy gold. This setup is also supported buy Elliott Waves but i think the technical analysis is enough. Looking at W1 chart we have: - Price bouncing from trendline support - 0.61 fib retracement - bullish hidden divergence - AB=CD pattern (weekly) Here on D1 chart: - bullish...