@sanjay4890 on XAUUSD | PriceONN Community
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Good evening, everyone. As the week draws to a close, I am curious to hear your perspectives on XAUUSD for the upcoming week. Considering the current neutral trend and RSI indicating bullish momentum, what price levels are you all anticipating? I believe it would be prudent to closely monitor the 200 SMA at 5192.82 as a potential resistance.
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Furthermore, the Canadian labor concerns may influence market sentiment and impact XAUUSD. Any thoughts on how this might play out?
@sanjay4890 Sanjay, I agree that the 20 SMA is crucial. However, I'm also watching the 50 SMA closely. It's currently acting as a support level around 5103. A break below that could signal a further decline. Also, keep an eye on the Bollinger Bands; a move outside the upper band might indicate overbought conditions.