CitRoN_RouGe

CitRoN_RouGe

Following the EMA line series: EMA25 – EMA50 cross pushed the price down to EMA200 level yesterday. Now it seems that EMA200 line is being broken, but not confirmed yet. Today we have Draghi speech, during which I do not expect to hear anything new. Following yesterday’s ADP NFP figures coming “above expectations”, USD_bulls were motivated for tomorrow’s NFP...

CitRoN_RouGe

Cycle low line extending from 1.1550 is broken and 1.1960 seems to become a lower high. EMA25 approaches EMA50 from above. We shall see either a cross or a bounce (a cross in my opinion). At the same time price is about to test EMA200 on 4H scale. Point “A” is critical today, a break below this point open the way down to 1.1730 and 1.1670 support levels. (Or a...

CitRoN_RouGe

Now It is crystal clear to me that bitty does not let me win. I waited for weeks to catch this spike, but unfortunately it happened during my vacation :(((( Congratulations to the winners …

CitRoN_RouGe

Price climbed back to the critical resistance zone once again. A sharp reaction from the band might open the door for a long-term USD_rally. Let’s see how USD_bulls would react to the US tax cut bill passed on Saturday...

CitRoN_RouGe

Cycle low line broken during the weekend, even down to 5500s. Malheureusement I missed it :(((( Now the price climbed back to the broken line, let’s see whether it would work as a resistance or not. Uptrend might resume by sustained break above this potential resistance.

CitRoN_RouGe

Honey comb is broken, and the bear tasted the honey… I remain bearish… A busy week is to come with critical events. Any event resulting against Euro shall drag the parity down the way to 1.1430. But in contrast, I don’t think that the events supporting Euro will carry EURUSD significantly higher. SHS neckline level 1.1680 is broken (undersigned by ECB), and in my...

CitRoN_RouGe

The price is stuck in 1270-1280 band since 20th October, which is unusual for gold_ market. Neither bulls nor bears are strong enough to push the price out of the band. The limits of consolidation zone seems to work quite better than other technical indicators. Basing on the market expectations on USD strength, I remain bearish as long as the mid-October high...

CitRoN_RouGe

Wednesday’s pin high level (on 4H chart) ~7900 was the signal for correction. Price rebounded back to cycle low level ~6400. I think the reaction from cycle low line will be under test during the weekend. Neither direction has been confirmed yet. Need to follow and confirm rejection from the cycle low or break of this line before taking position.

CitRoN_RouGe

On the hourly chart, I marked two levels to enter short position. - 1.1610 is the recent resistance level, coupled with EMA100 above. - 1.1640 might be the second rejection level, on which EMA200 stays now. Stochastic points downside, RSI reversal also to be confirmed. In the long-term, I still keep my short positions. Above levels might be good rebound...

CitRoN_RouGe

Looking at the daily cycle low lines, I hesitate to take further long positions until a major retracement low. (Maybe a retracement of $1000-2000 even extending down to 5000s.) I did not measure the angles on the chart, but it is visually obvious that the cycle low slope is steep enough to call for a major retracement. If I am wrong, that means that the market is...

CitRoN_RouGe

Fibo retracement 23.6% level (1.1680) is broken, with a clear SHS_ formation above. Following the break, price also faced resistance from 1.1680 level last week. ECB still dovish and EUR bulls' summer time excitement is missing. Retracement from September high level seems to extend further below. I prefer to hold short positions until the price touches the base...

CitRoN_RouGe

While working on daily chart patterns, I came to notice a bullish butterfly pattern. If I am not mistaken in fitting the pattern, the final point “D” shows 990. The butterfly looks lovely, but still I cannot convince myself about completion of this pattern, 990 would mean a market upside down ????

CitRoN_RouGe

An idea on weekly price action and governing supports/resistances …

CitRoN_RouGe

One of the rare periods of low volatility in gold market… a sharp break shall pave the wave for the next trend. Mood looks a bit bearish on daily chart, but higher weekly scale still bullish (waiting for a dip to make a new spike).

CitRoN_RouGe

Support/resistance bands based on overlapping Fibonacci retracement levels….

CitRoN_RouGe

(4H chart) Short-term potential supports and resistances to follow…..

CitRoN_RouGe

Price faced reaction from MA200 (4H) three times, and came down to break the channel bottom. RSI and MACD indicators look fine… To see whether the exhaustion on stochastic will resist the break ???

CitRoN_RouGe

EMA25 and EMA50 lines touched each other on the daily chart. Meanwhile Bollinger Band contracted enough for a potential move. Here I expect a sharp move down to relax the contraction, coupled with EMA25-EMA50 cross. Below waits EMA200 to be tested again, just underneath 1260 low of 6th October.