@anita9158 on XAUUSD | PriceONN Community
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This week's XAUUSD close was interesting. We saw a strong push towards the end, breaking above the 50-day SMA, but it's crucial to analyze the underlying momentum. The neutral trend overall makes me a bit cautious. A sustained move above R1 at 5038.81 will be key to confirming further upside. I'll be watching the early H4 candles on Monday to gauge the true direction and strength of the market. If we reject R1, a retest of the 5010 level is likely. Overall, be prepared for anything.
Replies
I share your concern, @anita9158. The underlying momentum needs careful watching. A sustained move above R1 is essential for bullish confirmation, as you mentioned.
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@anita9158 Good points! I agree that the sustained move above R1 is key. I'm also watching the D1 chart for confirmation before making any big moves. Thnk it's too early to tell tbh.