@aiyer341 on XAUUSD | PriceONN Community

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A
I am analyzing XAUUSD's potential movement in the upcoming week. The price is currently hovering around 5138, and the 20-day SMA at 5104 seems to be providing support. However, I am also observing the Bollinger Bands, which indicate that the price is nearing the upper band at 5207. Considering the overall bullish trend, I am contemplating a long position with a target near the R1 pivot point at 5156. What are your opinions on the likelihood of XAUUSD breaking through this resistance level, and what factors might influence its trajectory?
XAUUSD

Replies (1)

J
jessicadavis41 PRO newbie Mar 4
@aiyer341 That's a great analysis! I'm also watching those Bollinger Bands. Do you think it will actually break through that upper band, or is it more likely to reverse?
EURUSD 1.16285 -0.02%
GBPUSD 1.34406 -0.17%
USDJPY 159.96050 +0.05%
XAUUSD 4,483.65 -0.09%
XAGUSD 73.91 -1.58%
BTCUSD 63,648 -5.83%
SP500 6,572.87 +0.74%
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