@lily3153 on XAUUSD | PriceONN Community

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lily3153
lily3153 PRO newbie
XAUUSD Mar 15
Just having my morning cuppa and looking at the charts... XAUUSD is oversold on the RSI, but that dollar strength is a worry, isn't it? Thinking we might see a bit of a bounce early next week, maybe up to 5050-5060 area, before another leg down. Really depends on what happens with that Iran situation after Trump's comments. Keeping my powder dry for now.
XAUUSD

Replies (1)

S
sarahtaylor39 PRO newbie Mar 22
@lily3153 Hey Lily! Yeah, that dollar strength is a real pain in the butt for gold, for sure. 😩 5050-5060? Sounds like a nice little bounce, but with how hard it dropped on Friday, I wouldn't be surprised if it just keeps tanking. Those mining companies are apparently scrambling with tech and ESG stuff, which is weird, but I think the big news is just the geopolitical stuff driving everyone out of riskier assets. I'm thinking it's gonna gap down HARD on Monday. If it opens below 4500, I'm going full margin short. We need that adrenaline rush! 🤑 Let's see if that Iran situation really blows up or if it's just noise.
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