Is gold drawing a Cup and Handle on the daily? With UJ seasonality in agreement the likelihood increases...
Zlecenie aktywne
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USD devaluation about to start. Get ready..
Komentarz
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Devaluation hasn't even started yet and it jumped up like this. Tells me there will be more upside beyond 1360.
Komentarz
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Now that I see what the price is drawing I think this is actually the correct Handle because for the price to move up from here it will have to break support of before April 2018
Komentarz
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Slo-mo but getting there :)
Komentarz
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Round two coming up
Komentarz
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Handle is a bit bigger than I initially thought
Komentarz
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Next stop 1360? Buckle up!
Komentarz
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Expecting more upside. Get ready for round two.
Zlecenie aktywne
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Expecting more and more. Halfway August, traditionally the month of UJ seasonality.
Komentarz
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What an absolute beauty. More upside expected. New target 1750 before 1st of October!
watch carefully this one, you might be nastly disappointed too ... gold will collapse. look at the dollar index, it will produce a devastating spike
lapin_eliott
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@lapin_eliott, well i have some doubts suddenly, we share the same view on usdjpy, but i still cannot accep that eurusd and gbpusd might go up as you would like ...
Deep-Peat-Shark
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@lapin_eliott, EUR and GBP have been oversold throughout 2018. With a devaluing USD it makes more than sense GU and EU to go up. It is speculators who have got the nerves from news about Brexit and some issues in Europe. If you monitor the Forex chat room you can tell how emotional traders quickly become and news with an impact of that magnitude as Brexit or trade wars does not have a direct effect on the charts other than speculation. The economies of the Euro zone and Britain have simply not been underperforming compared to US as much as the charts should make you believe. What is your exact reasoning why the two pirs could not go up like I think they will?
lapin_eliott
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@ArnaudKleinveld, oversold ... but starting from where ? from being even more overbought in the first place, remember the eur going in straight line from 1.04 to 1.25, so we are only at 1.13 ... just 50%, this is far from being that much oversold.
the COT report is totally in opposition with a possible surge of eur, gbp ... while at the same time it totally advocates for a surge of jpy, this is why it leads to usdjpy indeed dropping but eurusd and gbpusd not going up.
Deep-Peat-Shark
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@lapin_eliott, Oversold since April 2018. I don't see the two currencies being overbought. Instead I see USD being bought to get the maximum price change possible within current market space. Since April 2018 one or more entities/individuals responsible for USD buying surges at non conventional times and volumes. Transaction details point to buying of USD solely for the purpose of devaluing the other major currency against the USD, in this case GU and EU. Later in 2019 also the rest of the majors were one by one targeted with exceptionally high volume automated buying surges of the USD,
I think we talked about this before and I have changed my attitude towards market operations, FX interventions by individuals or institutions and try to leave out the disputable words such as manipulation and motivations as trade wars. Instead I like to focus on what it means for retail traders and what should be taken into account when the above mentioned operations are active at time of trading for profit by us as retail speculators.
Deep-Peat-Shark
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@lapin_eliott, Can you include a chart with your projection? Just roughly will do. I want to make sure I understand what you are referring to.