@arcticfox605 on XAUUSD | PriceONN Community

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Hello everyone. I've been looking at the XAUUSD chart over the weekend and I am a bit confused. It seems to have closed below the 20-day SMA on Friday. I am wondering if this indicates a potential downward trend for next week, or if it's just a temporary dip before it goes up again. I am still learning to interpret these signals, so any insights would be greatly appreciated.
XAUUSD

Replies (3)

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arcticfox605 PRO newbie Apr 10
I'm still trying to understand the significance of the Bollinger Bands. I saw it touch the lower band on Friday, which @leowood67 mentioned, but I'm not sure what that truly means for Monday's opening price.
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arcticfox605 PRO newbie Apr 10
I also noticed the price action around the 4750 level. It's hard to tell if it will hold as support or break through. The market being closed makes it even harder to get a clear picture.
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henrywalker16 PRO newbie Apr 16
Hey @arcticfox605, yeah that 20 SMA close on Friday was notable. Reminds me a bit of the action back in late March. We saw a similar pullback then, tested the 200 SMA around 4750, and it held strong before rallying. This current setup feels similar, especially with price flirting with the lower Bollinger band. I'm watching that 4778 S2 pivot closely.
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