@jennifer462 on XAUUSD | PriceONN Community

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jennifer462 PRO newbie
XAUUSD Feb 19
I'm curious about everyone's thoughts on the recent XAUUSD movement. We've seen a steady climb, and the price is hovering around the 5000 mark. However, the Bollinger Bands suggest we might be nearing an overbought condition, especially if it breaks past 5021.27. Do you think this is a sustainable rally, or are we due for a correction? I'm also considering the impact of the upcoming economic data releases. What indicators are you all relying on to make your predictions? I'd love to hear your insights!
XAUUSD

Replies (1)

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AHarris27 PRO newbie Mar 8
@jennifer462 I think you're right about the Bollinger Bands, Jennifer. 5175 is a level to watch. But I'm not sure about overbought *yet*. Gold's been acting a bit crazy lately, and those indicators can lag. I'm more concerned about the UK GDP data coming out this week, could spook the markets and send gold either way. I'm thinking a small pullback early in the week, then maybe a push higher if things settle down. What do you think about this?
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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