@SarahReader on XAUUSD | PriceONN Community

Hey @SarahReader, I saw your comment about the 50-day SMA and 20-day SMA acting as resistance. That makes sense, especially since the price closed right around your S2 pivot idea. I'm a bit worried about the weekend news though, that Strait of Hormuz situation sounds pretty intense and usually makes gold jump around a lot. It's hard to say if that will cause a gap up or if the dollar strength you mentioned will pull it back down. I'm hoping for some clearer direction next week, it's been choppy.

Hey @SarahReader, I agree about watching those SMAs. They look pretty solid as resistance levels. The price action on Friday seemed a bit weak trying to push past them. I'm also skeptical about the dollar holding firm as long as the Fed is messing with rates like this. We'll see how Monday opens, hoping for a clean entry.

Hi @SarahReader, I saw your analysis about the SMAs acting as resistance. I've been watching those levels too, and it does seem like gold is struggling to push higher. My main concern is that the RSI is sitting around 38, which usually means there's room to fall further before it's considered oversold. I'm wondering if we might see a dip towards that S2 pivot you mentioned, or even lower if the current momentum continues. The dollar strength you pointed out is definitely a factor weighing on gold right now. What are your thoughts on the Bollinger Bands as well? They seem to be squeezing a bit, which could indicate a big move coming, but in which direction is the big question.