@olivia2002 on XAUUSD | PriceONN Community

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olivia2002 PRO newbie
XAUUSD Mar 7
XAUUSD finished the week on a relatively strong note, considering the earlier volatility. The RSI suggests bullish momentum, but the price is still below the 200-day SMA. I'm cautiously optimistic, though a significant correction wouldn't be entirely unexpected. I'll be monitoring the opening closely on Monday.
XAUUSD

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olivia2002 PRO newbie Mar 7
Update: Looking at the weekly chart, the close above 5170 is encouraging. However, the volume wasn't particularly high, which makes me hesitant to commit fully to a bullish bias. A gap up on Monday could present a good opportunity to take profits if I'm already long. I'm also wary of the potential for a 'bull trap' scenario, where the price quickly reverses after the gap. I'll probably wait for confirmation before making any significant moves. Need to see if the 50 SMA can act as support.
EURUSD 1.14436 -0.13%
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XAUUSD 4,001.21 -1.46%
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