Gold prices skid lower to start week as U.S. coronavirus vaccine rolls out.
I think gold and silver in particular have some good potential for further increases in the first half of 2021. Beyond that we will have to wait and see how quickly the availability of an effective vaccine starts to bring down the virus spread and whether economies start to recover and...
Gold major downtrend is respected. I expect a new downtrend because there will be a lower high.
Potential shorts can be opened at all Fibonaccis.
Reversal/pullback possibly at 1753
Chance to open small longs to retest the 1800 resistance and complete the elliott wave
Gold will stay below 1848 because of the supply zone and the Fib 0.618. The candles predicate that this area cannot be broken. Downtrend is respected.
As you can see gold makes double top lower highs and double bottom lower lows which means there is a huge potential for the elliott wave.
I expect the elliott wave will occur for the second time.
1st TP: 1802
Gold is very weak. Corona vaccine news will relief the market.
Due to the descending triangle the major support at 1850 will be tested again and will break. The price will drop till 1800-1810 area. Thereafter the chance to see 1850 as a resistance is very large. I think we will retest the 1850 resistance area at least 2 times.
The chance to hit the Fibonacci...
Due to the descending triangle and the vaccine for corona, I expect a decline in the gold market. This month we will reach 1820, but 1770 is also easy. Then the price will consolidate till the next target; 1660, this is a potential area for big longs.
My analyse is based on the fundamental that America will push the USD up and the goldprice down to stock up the...
Due to the economic chaos in turkey i expect the turkish lira will reach above 12 before summer 2021.
My expactation i have made with the fib speed resistance fan and arcs.
The turkish lira will reverse at 7,30 (fib 0.382 of the arcs) thereafter a huge run till 12.2 (fib 1.236 of the arcs). I expect this run will continue till 14,35 (fib 1.618 of the arcs).
Due to the increase of the interest rates of turkey the same thing will happen as years ago. Turkey isn't doing well and it will be worse with the turkish lira.
My expectations are like this; in 1.5x the time which the previous collaps the collaps will be exactly 1,5x stronger.
Max till summer 2021 the Turkish Lira will reach above 12