#Gold/EUR #XAUEUR - intermediate/long term (bullish scenario)
Due to fundamental reasons (Iran conflict, trade tariffs and currency #wars) there is a strong demand for #safe-haven #assets like #Gold, #Silver and #Bitcoin.
If the wave count in the chart is correct Gold has started a new impulse wave (wave 5) which has reached a new ATH on the EUR chart yesterday on January 5th 2020.
On Dec 23th the Wave Trend oscillator has crossed bullish on the weekly time frame which indicated a good buying opportunity for an intermediate swing trade position.
Currently GOLD/EUR has formed a double top with momentum dissipation on the daily time frame. However, there is still strong bullish momentum on the weekly TF!
If this bullish scenario plays out, impulse wave 5 may reach a new ATH of €1570-1600 in coming months!
After this a A-B-C correction will follow which may finish in late 2020 or in 2021 (hopefully this will be a good buying opportunity for long-term investors).
Be patient and do not FOMO. Let the price come to you!
I´m not a financial adviser. For educational purpose only!
If the wave count in the chart is correct Gold has started a new impulse wave (wave 5) which has reached a new ATH on the EUR chart yesterday on January 5th 2020.
On Dec 23th the Wave Trend oscillator has crossed bullish on the weekly time frame which indicated a good buying opportunity for an intermediate swing trade position.
Currently GOLD/EUR has formed a double top with momentum dissipation on the daily time frame. However, there is still strong bullish momentum on the weekly TF!
If this bullish scenario plays out, impulse wave 5 may reach a new ATH of €1570-1600 in coming months!
After this a A-B-C correction will follow which may finish in late 2020 or in 2021 (hopefully this will be a good buying opportunity for long-term investors).
Be patient and do not FOMO. Let the price come to you!
I´m not a financial adviser. For educational purpose only!
Comment:
Note:
GOLDEN CROSS on the monthly SMA50/100 (August 2019) = VERY RARE BUYING OPPORTUNITY! -> Accumulate gold with DCA for the long-term as soon as prices return to the mean -> governments will continue printing more and more money which will result in enormous asset inflation -> buy REAL MONEY = Gold, Silver and Bitcoin!
GOLDEN CROSS on the monthly SMA50/100 (August 2019) = VERY RARE BUYING OPPORTUNITY! -> Accumulate gold with DCA for the long-term as soon as prices return to the mean -> governments will continue printing more and more money which will result in enormous asset inflation -> buy REAL MONEY = Gold, Silver and Bitcoin!
Comment:
SHS formed on H4 chart (bearish reversal pattern)!
According to momentum on the weekly TF there is further upward momentum and strength. However, price moved outside the upper Bollinger band which means that there is a high probability for a pullback to the mean (SMA20 ~ €1350)!