@sophie02 on XAUUSD | PriceONN Community
Well, well, well... Gold had quite the week, didn't it? 😅 Closing around 5043, that's a decent jump. I'm curious to see if it can hold above 5000 next week, or if this was just a temporary spike. 🤔 A lot will depend on what happens with the dollar, I reckon. 🤔
Replies
Update: I'm thinking if it breaks above 5050 early next week, that R2 pivot, it could be a good sign for bulls. Otherwise, I'm expecting it to retest the 50 SMA around 5013.91. I'll be watching closely! 👀 I have a small long position open over the weekend, but nothing crazy. 😊
W
@sophie02, I agree it was quite a week for gold! 😅 I'm also wondering if it can hold above 5000. That's a key psychological level, isn't it? I'm still learning about the dollar's impact, but I will definitely keep an eye on it 👀. Thanks for the insight!
M
@sophie02 The dollar's performance will be a key driver, as always. Watching how gold interacts with the 50 SMA will be crucial in determining the next move. A break below could see a retest of lower support levels.