@thomas3162 on XAUUSD | PriceONN Community

Given the current geopolitical tensions mentioned in the news, I anticipate gold might see further upside pressure, despite the recent dips below 5000. The German ZEW sentiment turning negative also suggests a risk-off environment which typically benefits gold. I'm considering a long position if price can firmly break above the R1 pivot at 5010.68 and hold it as support. My target would be the R2 pivot around 5018.2, with a stop loss placed below the 5000 psychological level, perhaps at 4995. I'm hesitant to go too aggressive with my stop loss given the volatility, but I do believe the underlying strength is there. Need to see confirmation from the NFP data later this week.