@DanielMiller on XAUUSD | PriceONN Community
With gold closing the week around 5021 and RSI oversold, I'm curious what everyone's expecting for next week. I'm seeing mixed signals, the news about Middle East tensions could push it up, but the dollar strength is a major headwind. Anyone have a solid bias heading into Monday?
Replies
Actually, thinking about it more, that dollar strength might be the bigger factor. If the DXY keeps climbing, it's hard to see gold making much headway, even with geopolitical risks. Plus, we didn't even break the 50 SMA. Might be looking at a short opportunity if we see a weak open on Monday. Any thoughts?
B
Hey @DanielMiller, I'm with you on the mixed signals. The geopolitical news is definitely a wildcard, but that dollar strength is a beast. Hard to pick a side right now, feels like we're just waiting for something to break.