@shweta_c68 on XAUUSD | PriceONN Community
This XAUUSD action reminds me a bit of the rally we saw back in early 2022. We had a similar strong move upwards, fueled by inflation concerns and geopolitical tensions. Back then, the price surged rapidly before consolidating for a few weeks. The key difference now is that the Fed's stance seems less dovish, which could limit the upside potential. I'm still bullish overall, but I'm being cautious about adding to my long positions at these levels. Monitoring the D1 chart closely for any signs of weakness. A break below the 20 SMA would be a warning sign.