Market insights
If you wish to sell gold do it for JPYAs per Gold/USD long-term analysis gold is in down-trend from the last week. As per long-term USD/JPY analysis , it is in downtrend too. What it tells me, that if you wish to sell Gold you should be selling it for JPY, since the pace will be twice faster, and deeper I am expecting fall to 100,000 at minimum before its first significant bounce up.
But ... palladium is also awesome opportunity for selling, analysis is coming.
XAUJPY target 2.618 fibo levelXAUJPY went over the 1.618 level easily and I'm targeting 2.618 fibo level
please comment your ideas
Gold in yen at 2.618 fib areaMaybe some turbulence, but the path is clear long term $GC_F, $GLD, $USDJPY
xaujpyTarget was set before at K200 yen per OZ now the calculation estimate is 200900 yer / oz
what a ride
b wishes
Nidal Alzubaidi
XAUJPY IS A BUYXAUJPY buy signal @ 164414 with target set arround @ 176K jpy
buying arround 158500
now is trading arround 160220
3BR will be at 162164 also the Down trend line a brake of that (price at 163431 ) will be POSITIVE
164457 is the previous high on the XAUJPY P&F 3BR-ATR14
these are the numbers to watch and worry about
climbing the walls of worry isn't easy hope will happen before year end
best of luck
Nidal Alzubaidi
Custom Index Look- GBP: Looks consolidated in current area. Risk either side
- EUR: Managed to pull away from the low during yesterday trading. Keep a close eye on the current area
- JPY: Risk appetite looks to be rather weak at the moment still
- GOLD: USD weakness after the data yesterday caused a bullish spike on GOLD. Interesting to see if GOLD stays in this downtrend.
- AUD: Looks like it's trying to claw back some of the losses from yesterdays trading. Careful for the technical retrace level (Fib retrace) that could be in play later on.
Potential break of downtrend retracement - Gold JPYPotential accumulation on hourly time frame. Looking for price to use prior month low as support level along with support level drawn on hourly chart.
Still in the infancy stages. Next month could see the uptrend resume. Could be a good entry for a few month hold.
I love that large reward to risk 10+, 20+, 30+
OANDA:XAUJPY
Bullish break of structure GoldLooking to go long on the breakout of last swing high. The swing high coincides with prior year high. Track the breakout on the 20 SMA to gauge speed of the move and when to exist a portion of the position.
I'm looking to hold onto at least half of this position in hopes of catching the May monthly range and maybe a longer term trend.
Trying to build multiple positions in hopes of an uptrend emerging on the weekly and monthly charts.
XAUJPY Rally?Analysis
-XAUJPY looking bullish after showing signs of a reversal. Sellers pushed price down into support but the following day, buyers bid up the price to back above support before the second daily candle close.
-The 2 candle price action resulted in a bullish engulfing setup AT SUPPORT which is a bullish sign.
-The third day (after daily bullish engulfing candle) price formed a red inside bar which is indicative of consolidation on lower time frames
-On the 1H time frame, price just broke a bearish trendline to the upside.
-There is also bullish RSI divergence on the 1H time frame which further eludes to price possibly moving higher in the coming days.
-The reward/risk is good for the setup (given the distance between daily S/R levels)
Entry, Stops and Targets
-Long Entry: 144,336 (Enter long after price pulls back)
-Stop Loss: 143,170 (Set stop below the lowest daily candle)
-Take Profit: 146,668 (Set targets at a minimum of 2 times your stop depending on entry)
= 2R
*Trade Safe and at your own discretion!*
XAUJPY: Double Rebound scenario.XAUJPY has been trading within a 1D Channel Up that is now on its Higher Low limit (RSI = 50.211, Highs/Lows = 0.0000, MACD = 335.230). The declining Higher High sequence however may push this time slightly lower creating an alternative marginally tilted Channel Up (dashed parallel lines). The long TP is 142915.
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XAUJPY very bullishit may be strange that I am bearish on XAUUSD but bulliish on XAUJPY.
However, above statements can be tenable because I am also very bullish on USDJPY.
XAUJPY approaching support (with some fundamental analysis)XAU: With increasing risks of emerging markets like Turkey, people tends to buy GOLD in order to protect their purchasing powers. As a result, the demand of Gold increases.
JPY: In mid terms (within 1-2 years) , it is expected that BoJ will not raise the interest rate due to the slow economic and inflation growth. Therefore, it is expected that JPY will not appreciate sharply and even depreciate.
