@codyscott99 on XAUUSD | PriceONN Community
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XAUUSD is exhibiting bullish momentum, currently trading around 3886. The RSI(14) at 62.6 suggests increasing buying pressure but is not yet in overbought territory. I'm observing the price action closely for a potential breakout above the immediate resistance at R1 (3888.52), which could trigger further upside. However, it's crucial to monitor for potential pullbacks towards the 20-day SMA (3868.72), which could act as dynamic support. I would advise exercising caution and implementing appropriate risk management strategies, as the market can reverse quickly. A measured approach with staggered entries might be prudent in this environment. Always consider the impact of macroeconomic data releases on XAUUSD.