Loading ...For Silver Fox
This is what I see Silver Fox. The bulk of the $USD is the Euro so if there is resistance on the $Gold $US chart it should also show up in the XAUEUR chart? I’m not a TA by any stretch I’ll leave that to the pros. Just random lines of what I see.
Are these charts Bullish or Bearish. Maybe they are Neutral?
I am not TA expert either. Trying to learn. Using your second chart I got this. Anyone is free to help me out or I suppose you could just say it is as ugly as Fully’s ass (Donkey). I could post another post but just will provide the link here: https://www.tradingview.com/x/ItBWayyk/
Not sure of the protocol. Maybe I should post another post? Fully?
That’s a good chart…Gold in Euro needs to bounce as red has been saying…
I guess the first thing is do I have the $XEU? I believe that is EURUSD in Tradingview right?
Scoremore try Gold Euro in trading View.
The slope of the two charts since Jan 2017 is my focus. The Gold Euro making lower highs and the Gold $US making higher lows as the $USD tanked from 103 to current 89.
Is this Bullish Bearish or Neutral with respect to Gold? How long can it last?
In answer to your question ‘is this bullish or bearish ?’ The answer is that a price chart doesn’t usually answer that. You need to look at every single indicator and consider COT positions, the dollar, interest rate movements, cycles etc. The likely path going forwards comes as a result of the collective answers from all of those, and can only ever be a ‘possible’ or ‘probable’ outcome.
Exactly Northstar.
I enjoy your posts and your optimism but your reply here is spot on IMO with respect to look at everything. Throwing together bullish or bearish charts only in $US terms does not provide a true picture of the market. Charting the GDX or HUI and wonder why the last 15 months price valuations are at current levels? Price in the 14% drop in purchasing power of the $US into those GDX and HUI charts for an even more sobering perspective.
Now I understand what you were saying, red label. Gold price pattern is an ascending triangle in USD, and in a descending triangle in Euros. Interesting.
My thoughts:
Since gold is “fixed” in USD terms we have to believe gold will rise if the dollar fall continues to fall. Will gold then rise in terms of FC as well?
Will a world wide deflationary implosion be positive or negative for the dollar?
Will gold soar as the SM implodes, or will it follow the market down as it did in 2008, then explode upwards as the central banks crank up the printing presses once again?
Sadly, no answers here, only questions…