Decision For Gold In All Major Currencies
Content
- Gold in U.S. Dollar
- Gold in Euro
- Gold in Swiss Francs
- Gold in British Pound
- Gold in Canadian Dollar
- Gold in Australian Dollar
- Gold in Japanese Yen
- Gold in South-African Rand
1. Gold in U.S. Dollar
Since 1999 resp. 2001, the USD-goldprice is in a superior upward-trend, whereas the (green) trend-channel dominates the upmove - rising relatively strongly after breaking the (red) consolidation-resistances. As the (violet) trend-channel was broken recently, a buy-signal was issued that was changed to a sell-signal with reaching the upper (green) resistance at approx. 1420. A longer-term buy-signal is given when rising above it, while another sell-signal is articulated when breaching the (green) support currently at approx. 1350 as a pullback to the (violet) support at approx. 1250 is expected then - longer-term sell-signal when breaching this important support & as well the (green) trendline directly beneath it currently at approx. 1200.
The following close-up since October 2008 shows not only a (blue) triangle, but as well a (violet) triangular price formation, whereas the first thrust to the upside (the final dissvolvement movement of a triangle; in general either a strong upward- or downward-move) took place already in front of the triangle-apex - after a breakout & subsequent pullback to the upper (blue) triangle-leg. The second triangle (violet) had its breakout in the end of April 2010 (from the violet leg at approx. 1175 to the red-dashed resistance at approx. 1250-1275), whereafter a pullback to the price-level of the (violet) leg at approx. 1175 followed until August. Since then, the price is thrusting to the upside - with the goal of breaking the high of the triangle (approx. 1250; already completed) & of the breakout (approx. 1250-1275; already completed) & to transform them via pullbacks into new & sustainable supports (not yet completed, whereas generally a pullback is not mandatory for a successful thrust to start). In October 2010, after an initial breakout above the upper (red-dashed) trend-channel, a pullback to this formerly strong resistance took place - thus, with the commencement of rising prices since then, a new & sustainable upward-trend is anticipated typically being as strong as thrusts to the upside (especially in the beginning). Hence, a longer-term buy-signal predominates since the successful completion of the pullback to the 1350-level.
Indicators:
RSI: buy-signal when rising above both the (grey) resistances at 70 & 75. Sell-signal when breaching the currently reached (blue) support.
ROC: buy-signal since rising above the (grey) resistance at approx. 5% (sell-signal when breaching it).
MACD: buy-signal since both curves started to rise from the (red) support recently (sell-signal after an initial decrease by both curves is noted).
The following close-up since October 2009 shows especially the recent rises above both the upper (red-dashed) trend-channels generating further buy-signals since the thrust that began in mid 2010. In October 2010, a sell-signal was issued with breaching the upper (red-dashed) support, whereas the subsequent rise above it generated a longer-term buy-signal (sell-signal when breaching this trendline currently running at approx. 1350).
2. Gold in Euro
The EUR-goldprice began a strong upward-trend after an almost 5-year long sideways-consolidation within the (red-blue) triangle in mid 2005. The thrust that takes place since then moves along the (green) upward-trend-channel, whereas stronger price-appreciations occur especially after consolidations beneath the (red) resistances. In early 2010, the strong (black & violet) resistance at approx. 800-850 was broken generating a buy-signal. Since reaching a new all-time-high at approx. 1050, a first consolidation beneath the (red) resistance takes place - longer-term buy-signal when rising above it & sell-signal when breaching the (green) support currently at approx. 950.
The following close-up since 2006 shows the EUR-goldprice in an upward-trend that preferred to move within the (green) upward-trend-channel, whereas in 2009 the upper (green) trend-channel at 750-800 was broken & transformed into a support, whereas a new & sustainable upward-movement began reaching the 1050-level in mid 2010. A first correction to the (newly-built) upper (green) trend-channel at approx. 900 followed (pullback), whereafter another consolidation began beneath the 1000-level. A longer-term buy-signal (à la thrust to the upside) is active since rising above the (red) resistance at approx. 980 - sell-signal when breaching it during a potential pullback, whereas a longer-term sell-signal (à la thrust to the downside) is given when breaching the (green & violet) support at approx. 910 resp. 880.
Indicators:
RSI: buy-signal since arriving & holding at the (red) support & as well since rising above the (green, blue & especially violet) resistance. Next sell-signal when reaching the (grey) horizontal-support at 70 points (buy-signal when rising above it), or in case of a pullback to the (violet-blue-green) intersection-support at 50 points (sell-signal when breaching it).
ROC: buy-signal since rising above the (red, green-dashed, green & violet) resistance - sell-signal when breaching the (violet) support.
MACD: buy-signal since both curves started to rise from the (green & red) support recently.
3. Gold in Swiss Francs
Since 2005, the CHF-goldprice thrusts to the upside from the (blue) triangle (since 1997), whereas this upward-movement predominately occurred within the (green) trend-channel. After the strong rise from the (black) trendline at approx. 550 to 900, a first sideways-consolidation within the (blue) triangle began in early 2006 - out of which a breakout from approx. 830 to 1050 took place, whereafter a longer & volatile pullback to the (blue) triangle-apex at approx. 800 followed. Since then, the price thrusts to the upside (within the violet triangle). In early 2010, the upper (violet) leg at approx. 1300 was broken & a breakout to the upper (green) trend-channel at approx. 1450 occurred. The subsequent pullback attempts to win the currently reached (violet) triangle-apex so that a further thrust to the upside can commence. The triangle-apex was just broken generating a longer-term buy-signal (sell-signal when breaching it again).
The following close-up since 2005 shows the most recent rise above the price-level of the (violet) triangle-apex at approx. 1350 (longer-term sell-signal when breaching it) - thus, a longer-term buy-signal is active since then as a thrust to the upside is expected (despite prior breachings) with the goal of breaking the price-level of the breakout (ca. 1450) & to transform it into a support so that a new & longer-term upward-trend can commence (typically as strong as thrusts, especially in the early phases).
Indicators:
RSI: sell-signal not until reaching the (green) resistance at 70 or 90 points (buy-signal when rising above it) - further buy-signal in case of a correction to the (green) support (sell-signal when breaching it).
ROC: buy-signal since rising above the (green) resistance (sell-signal when breaching it).
MACD: buy-signal still active since both curves started to rise in mid 2010.
4. Gold in British Pounds
Since 2005, the upward-trend of the GBP-goldprice moves within the (green) trend-channel, whereas consolidations took place especially beneath the (red) triangle-legs - the respective lower leg was formed by the (blue) parallel-trendlines. In early 2010, the (violet) resistance at approx. 780 was broken & the breakout went to the 900-level, whereafter a pullback to the (green) support at approx. 750 followed. Since then, the price thrusts to the upside - with the goal of breaking the high of the breakout (approx. 900) & to transform it into a support so that a new & sustainable upward-trend can start. Hence, a longer-term buy-signal is generated when rising above the (blue) resistance, or in case of a further pullback to the (violet-green) triangle-apex at 800 - equivalent longer-term sell-signal when breaching the (green) support at approx. 780.
The following close-up since 2009 shows that a longer-term buy-signal was generated with rising above the (formerly) strongly resistive (red) trendline in August 2010. However, the risk of a pullback to this important trendline at approx. 800 remains intact neutralizing itself when breaking above the (black & green) resistance at >10.
Indicators:
RSI: buy-signal still active since arriving & holding at the (grey) support, whereas the next sell-signal is positioned at the (grey or orange) resistance at approx. 70 points - buy-signal when rising above it, or in case of a correction to the (grey) support currently at approx. 50 points (sell-signal when breaching it).
ROC: buy-signal since arriving & holding at the (violet) support & as well since rising above the (green) resistance at 5% most recently - sell-signal when breaching it, or when reaching the (grey) resistance at 10%.
MACD: buy-signal since both curves started to rise recently.
5. Gold in Canadian Dollar
Longer-term buy-signal since rising above the upper (violet) triangle-leg at approx. 1380 - sell-signal when breaching this new support. As long as the price remains trading above the (violet) leg, a strong breakout is expected that can change into a thrust to the upside without a pullback. Longer-term sell-signal when breaching the (green) support currently at approx. 1250.
The following close-up since 2009 shows the breakout above the (violet) triangle-leg at approx. 1340 in September-October 2010 & that a pullback occurred after reaching the upper (green) trend-channel at approx. 1425. The pullback breached the (violet) support only shortly & slightly, whereafter the thrust to the upside seems to have started. The upper (green) trend-channel at approx. 1425 was just broken, however it was breached directly thereafter generating a first sell-signal - longer-term buy-signal when rising above it, whereas a first buy-signal is given already at the (green) parallel-support at approx. 1400 (sell-signal when breaching it).
Indicators:
RSI: buy-signal since rising above the (green) resistance - sell-signal when breaching it, or when reaching the (grey) horizontal-resistance at 70 points (buy-signal when rising above it).
ROC: buy-signal since rising above the (blue) resistance recently - sell-signal when breaching it, or when reaching the (blue or green) resistance at 7.50-10% (buy-signal when rising above it).
MACD: buy-signal since both curves started to rise from the (blue) support recently.
6. Gold in Australian Dollar
At the AUD-goldprice, stronger price appreciation periods predominately start after rising above the (red) triangle-legs, whereas the (blue) legs act as support during the relatively long sideways-consolidations. In early 2010, the (red) resistance at 1300 was broken - a breakout to the 1550-level followed producing a new (red) resistance, whereafter a pullback to the (red-blue) triangle-apex occurred. Since the price started to rise since then, a thrust to the upside is expected having the goal of rising above the high of the breakout (approx. 1550) & to transform it into a support (typically via a more or less long sideways-consolidation, whereas this support acts mostly as the lower leg), whereafter a new & sustainable upward-trend is to commence (as well relatively strong à la thrust to the upside). Hence, a next buy-signal is issued when rising above the (grey) horizontal-resistance at approx. 1400, or in case of a correction to the (green-dashed) support at approx. 1300 - longer-term sell-signal when breaching the price-level of the (red-blue) triangle-apex at approx. 1280.
The following close-up since 2005 shows that a buy-signal is not only generated at the lower (green) trend-channel, but especially when rising above the (red) resistance. Hence, a longer-term buy-signal was just issued with rising above the (red) trendline at approx. 1380 - equivalent sell-signal when breaching the (green) support currently at approx. 1360.
Indicators:
RSI: sell-signal since reaching the (grey) resistance at approx. 60 points - buy-signal when rising above it, or in case of a correction to the (violet or green) support at 50 resp. 40 points.
ROC: buy-signal since arriving & holding at the (red-green) triangle-apex - sell-signal when breaching the (green) support, or when reaching the (grey) resistance at approx. 10% (buy-signal when rising above it).
MACD: buy-signal since both curves started to rise from the (red) support recently.
7. Gold in Japanese Yen
The downward-trend in 1980-2000 took place within the downward-sloping (red-blue) triangle out of which already in the end of 1995 a breakout occurred, whereafter a pullback to the (red-blue) triangle-apex followed until the end of 1999. Since then, the JPY-goldprice thrusts to the upside - with the goal of breaking the high of the (red-blue) triangle (approx. 170000) & to transform it into a support so that a new & sustainable upward-trend can commence. In early 2010, a breakout above the (grey) horizontal-resistance at approx. 100000 took place, whereafter a pullback was completed (incl. slightly breaching it) - thus, a buy-signal was issued recently when starting to rise from it. Sell-signal when breaching the (green & grey) support-zone, or when reaching the upper (green) trend-channel currently at approx. 120000 (longer-term buy-signal when rising above it).
The following close-up since 2006 shows the JPY-goldprice within the (green) upward-trend-channel. A buy-signal was produced recently with rising above the (green) resistance at approx. 113500 - sell-signal when breaching this new support, or when reaching the upper (green) resistance at approx. 120000 (longer-term buy-signal when rising above it).
Indicators:
RSI: sell-signal since reaching the (grey & violet) resistances at approx. 70 points - buy-signal when rising above it, or in case of a correction to the (green) support at approx. 50 points.
ROC: buy-signal since rising above the (grey) triangle-leg recently - sell-signal when breaching the (green) leg.
MACD: buy-signal since both curves started to rise recently.
8. Gold in South-African Rand
The ZAR-goldprice predominately moves within the (green) upward-trend-channel, whereas longer consolidations occur especially at the (red & violet) resistances - however, relatively strong price appreciation periods take place after rising above them. Thus, the ZAR-goldprice thrusts to the upside since the pullback to the (violet-green) triangle-apex at approx. 9000 was completed (superior buy-signal) - equivalent sell-signal when breaching the price-level of the (violet-green) triangle. A further buy-signal is given when rising above the (grey-dashed) horizontal-resistance at approx. 10000.
The following close-up since 2008 shows not only the (green) upward-trend-channel, but as well the (blue) trendline - buy-signal since rising above it (sell-signal when breaching it) enforcing & renewing itself when rising above the (green & orange) resistance currently at approx. 9750 resp. 10000.
Indicators:
RSI: buy-signal still active since arriving & holding at the (blue & green) support recently - sell-signal when breaching it, or when reaching the (grey) resistance at approx. 70 resp. 80 points (buy-signal when rising above it).
ROC: buy-signal since rising above the (red & green) resistance lately - sell-signal when breaching the (green) support.
MACD: buy-signal still active since both curves initiated a rise in mid 2010.
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Stephen Bogner
www.makrocheck.ch
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