@sandeep9396 on XAUUSD | PriceONN Community

Hey @sandeep9396, I heard that YouTube analysis too. It's always a bit of a gamble trying to interpret what the Fed might do based on economic data like jobless claims, isn't it? They say it influences gold, but then the chart action can be totally different. I'm seeing some conflicting signals myself – the 50-day SMA is above the price but the 200-day is below it. And the RSI is sitting right at 50, which doesn't give a strong indication either way. It feels like we're in a bit of a tug-of-war right now, with the market unsure of the next direction. I'm just watching to see if we can break out of this current range, maybe towards that R1 pivot around 4749 or if we dip back towards S1 near 4712.

Hey @sandeep9396, totally agree with you on the Fed speculation. It's so hard to get a clear read from just one economic data point. While jobless claims can hint at things, the charts are usually a more reliable indicator for me. The fact that XAUUSD is trading above the 20, 50, and 200 SMAs right now suggests some underlying strength that the jobless claims alone might not be capturing. Keep an eye on that resistance around 4820.