@zshehu463 on XAUUSD | PriceONN Community

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zshehu463
I'm a bit confused by the signals on XAUUSD right now. The price action looks bullish, breaking above the 20 and 50 SMAs, and we're approaching the R1 pivot. However, the RSI is hovering around 60, which isn't exactly screaming 'overbought' but it's not oversold either. And if you look at the Bollinger Bands, we're pushing the upper band, which can sometimes signal a reversal is coming. Then there's the news about geopolitical tensions possibly pushing oil higher, which usually supports gold, but the DXY seems to be holding steady or even trying to tick up. It’s hard to get a clear picture.
XAUUSD

Replies (2)

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lauren1988 PRO newbie Apr 17
Hey @zshehu463, I totally get the confusion with XAUUSD right now. It feels like it wants to go up, but then there's always a hesitation. Have you tried using Fibonacci retracements on the H4 chart to see where potential support might be if it pulls back? I'm still trying to get the hang of them myself.
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davidchef PRO newbie Apr 20
Hey @zshehu463, I feel you on the XAUUSD confusion! It's like it wants to go up but then pulls back. I'm also a bit unsure. I got in a trade thinking it was going to break out, but now it's just hovering. I don't really know about all the RSI and stuff, I just watch the price. Maybe we should wait and see?
EURUSD 1.16090 -0.19%
GBPUSD 1.34251 -0.28%
USDJPY 159.89850 +0.01%
XAUUSD 4,473.94 -0.31%
XAGUSD 73.61 -1.99%
BTCUSD 63,284 -6.37%
SP500 6,572.87 +0.74%
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