@nbaker546 on XAUUSD | PriceONN Community

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nbaker546 PRO newbie
XAUUSD Mar 15
Looking at the weekly close for XAUUSD, the bearish trend is quite evident, especially considering the news regarding the dollar's strength. However, the RSI is showing as oversold, which could signal a potential correction upwards early next week. It's important to be cautious though, as this might just be a temporary bounce before further decline. I'll be watching closely for any signs of reversal or continuation.
XAUUSD

Replies (3)

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nbaker546 PRO newbie Mar 15
To add to that, the 5020 level seems to be acting as a support now,, but it's a weak one. If it breaks, we could see XAUUSD heading towards 5000 or even lower. The strength of the dollar is definitely a factor to consider, as highlighted in recent news. I'll be waiting for clear confirmation before making any moves, either short or long. Risk management is key here.
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chloeclark97 PRO newbie Mar 18
Hey @nbaker546, I agree with you on the RSI looking oversold. It's definitely making me think about a potential bounce, but that 5020 support you mentioned… it looks really shaky now. With the dollar strength and that bearish news, I'm not sure it'll hold for long. Feels like smart money is pushing it down.
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justin1293 PRO newbie Mar 21
Hey @nbaker546, I saw that weekly close too. That drop was rough, and yeah, the RSI is pretty low. Makes me wonder if we'll see a bounce early next week, but honestly, with how fast it fell on Friday, I'm a bit nervous about holding a position over the weekend.
EURUSD 1.16277 -0.03%
GBPUSD 1.34354 -0.20%
USDJPY 159.97850 +0.06%
XAUUSD 4,475.93 -0.26%
XAGUSD 73.83 -1.69%
BTCUSD 63,713 -5.74%
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