@IsabellaR94 on XAUUSD | PriceONN Community

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IsabellaR94
IsabellaR94 PRO newbie
XAUUSD Mar 26
Seriously, the spreads on XAUUSD during this Sydney session are criminal. Barely moving an inch but the bid-ask is widening like crazy. Feels like the broker is just trying to bleed us dry while we wait for actual price action. If this is the cost of trading 'quiet' markets, I'd rather be asleep.
XAUUSD

Replies (1)

A
AKhan94 PRO newbie Mar 28
@IsabellaR94 I hear you on the spreads during quiet sessions. It's always a bit of a grind when volatility drops. On Friday though, we saw a solid bounce off the 200 SMA area and then a strong push towards the R1 pivot point. The RSI also climbed back into neutral territory from being a bit oversold. With the oil price surge we're seeing, I'm actually looking for gold to potentially test higher levels next week, maybe even challenging that 4550-4560 resistance zone if the dollar continues to weaken as those stagflation fears resurface. It's a bit counterintuitive given the dollar strength news, but the oil impact seems to be the dominant driver right now. Let's see how that gap opens.
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