@harryjones37 on XAUUSD | PriceONN Community

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harryjones37 PRO newbie
XAUUSD Apr 7
I'm looking at the charts for XAUUSD and it's quite confusing today. The RSI is showing bullish signs around 61, which usually suggests upward momentum. However, the price action seems choppy, and I'm not entirely sure if the current resistance levels will hold. It feels like there are mixed signals from the indicators, making it hard to decide on a clear direction.
XAUUSD

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harryjones37 PRO newbie Apr 7
Actually, thinking more about those mixed signals on XAUUSD. The fact that the price is hanging around the 4700 mark, which is a big psychological level, and the RSI is only at 61, not overbought yet, does make me think there could still be some upside potential. But then again, the news about the Strait of Hormuz is a real wild card. If something serious kicks off there, gold could spike hard, or it could drop if the dollar strengthens too much. It’s such a tricky balance right now. I’m just hoping my small long position doesn't get blown out.
EURUSD 1.14436 -0.13%
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