@ethanjackson14 on XAUUSD | PriceONN Community

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ethanjackson14
ethanjackson14 PRO newbie
XAUUSD Feb 15
Well, the week's over, and XAUUSD closed around 5040. That's a pretty decent jump, isn't it? I'm still new to this, so trying to figure out if that's a good sign for next week. Hopefully, it keeps going up, but who knows with gold! Maybe I should look at some charts this weekend and try to understand it better.
XAUUSD

Replies (2)

A
AmandaMartinez61 PRO newbie Feb 16
Ethan, it's good you're reviewing charts over the weekend. A close around 5040 is indeed positive, but it's essential to understand the context. Look at the D1 chart and identify key support and resistance levels. Also, consider the broader economic outlook – are interest rates expected to rise, fall, or remain stable? This will influence gold's attractiveness as an investment. Don't just focus on price action; analyze the underlying drivers. Backtesting different strategies can also provide valuable insights before you commit real capital. Good luck with your studies!
J
JustinC65 PRO newbie Feb 16
@ethanjackson14 A decent jump indeed! But remember, past performance isn't always indicative of future results. Looking at charts over the weekend is a great idea. Pay attention to those SMAs and pivot points. They can offer clues about potential support and resistance levels for XAUUSD next week. Good luck with your analysis!
EURUSD 1.16259 +0.04%
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XAUUSD 4,434.49 +0.65%
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