@wking574 on XAUUSD | PriceONN Community
W
Looking at XAUUSD, the week's price action suggests potential for further upside, but caution is warranted. The break above 5100 is significant, but the overbought RSI on the daily timeframe indicates a possible correction. Next week, I'll be watching for a potential retest of the 5070-5080 support zone. A successful hold there would confirm continued bullish momentum. Conversely, a break below that level could signal a deeper pullback towards the 50-day SMA. I'll adjust my strategy accordingly, focusing on risk management and position sizing.