XAUAUD trade ideas
GOLD prices in AUD has broken out higheryeah yeah.. AUD heading lower against USD which means GOLD in AUD will rise.
yeah debase the currency to expand the debt ....
no going back now....
everyones got enough debt in AUD already. saturation point is reached.
Gold/AUD ready to make an assault on the December highs?Let the market force the trade, wait for a break of the current range and ride gold into the December highs.
There are obviously many considerations we should assess when trading any market. But, two that stand out when trading gold, especially when it's strongly trending, are:
1) Whether gold is going up/down in other G10 currencies, and not just USDs
2) Understand which is the weakest currency over the past five-days and trade gold in that exposure
Adopting these principles, we can see that in the recent bull run from November gold rallied in almost every currency, even some of the stronger EM currencies too. Granted, we are currently seeing signs of consolidation in price but is consolidation is healthy after such a strong run. The question we are fielding actively now is around when the next leg up plays out, and what FX exposure we should use as our vehicle.
So, given the macro backdrop is still supportive of gold appreciation the preference is to trade gold in AUD or EUR terms, although the AUD gold (XAUAUD on MT5) chart looks interesting. On the daily, we can see price oscillating in a fairly tight range and neither the bulls or bears hold the conviction to exert their dominance. That should change early next week and should be respected, and my view is the higher probability is that we see an upside break of this range, which will force the trade. A close, therefore, through 1810 would coincide with stochastic momentum accelerating to the upside and likely promote a bullish crossover on the weekly chart too. A move into the December highs couldn’t be ruled out in this scenario. Of course, should price break to the downside and short positions would be preferred.
The catalysts are indeed there for all to see, and the AUD is firmly in play. Firstly, the meeting between the US and China delegations to discuss trade could be a big driver of the AUD, with traders using the AUD to express a view on EM. Secondly, we get NAB business confidence and Aussie Q4 CPI and should these come in weaker-than-forecast then it should open the door for the RBA to turn far more dovish at the 5 February meeting.
Disclaimer.
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GOLD priced in AUD ... DID not break outIt looked as though the price of GOLD had broken out mid week if you examined the candlestick chart but the GOLD price retreated by friday. We check the closing price using the line chart and see that breakout had actually failed to eventuate.
We will wait for the coming months to see if the momentum moves to the upside. Will the AUDUSD move higher/lower. this will greatly effect the price of GOLD in AUD.
GOLD/AUD SELLGOOD TRADE IF YOU CAN TRADE THIS PAIR.
YOU MUST HAVE A STRATEGY TO TRADE.
TRADE WITH CARE
XAUAUD short? What I'm seeing with the aussie dollar and gold, possible retest zone before continuation. See how rest of the day/following week plays out.
XAUAUD SELL 1758/60 TG OPEN SL 1766 XAUAUD SELL 1758/60 TG OPEN SL 1766
MORE INFO PM ME ........
DEMO CALL NO CHARTING EXPLAIN .....
XAU/AUD Daily Double Bottom / W PatternThese almost always end up in profit. With the Australian Dollar falling on recent news of US job gains, it couldn't be a better time to hedge a percentage of your portfolio against gold.
XAUAUD Long Opportunity - Symmetrical Triangle XAUAUD appears to be putting in place a symmetrical triangle, which generally leads to a continuation of the trend.
XAUAUD - possible longPossible flag pattern forming, still not completely formed. Waiting for breakout and confirmation
Bullish on XAUAUDClassic Accumulation pattern showed by ADX, no Entry sign yet however given risk reward it looks good.
This should a couple of days to hit Target One, May be few more weeks to target 3.
Use trailing stop and adjust your stop loss as we move across Fib Targets
gold longbull flag wait for break above or buy at support of the continuation pattern (Bullish Flag)
XAU AUDCurrently XAU is the Strongest and AUD is the weakest. Therefore XAU AUD pair should show a strong up trend. This pair will go long and break 1669.173 and retest the level and go long till the daily resistance of 1701.612.
