@ava2664 on XAUUSD | PriceONN Community

@ava2664 I agree that the 200 SMA is a crucial level to watch. Given the current market sentiment and the Middle East conflict, I'm inclined to believe that a breakout is more likely than a rejection. However, I'll be closely monitoring price action around 5120 for confirmation before committing to a long position.

@ava2664 That 200 SMA is making me think twice too. I'm leaning towards bullish because of the news about the dollar, but who knows these days? Lets see what happens...

@ava2664 That 200 SMA is definitely a key level, but I wouldn't put too much faith in it alone. I think it's more useful to look at it in conjunction with other indicators, like the RSI and MACD. Plus, keep an eye on those news events. I saw that article about oil prices and inflation potentially boosting the dollar, which could put downward pressure on gold. It's a bit of a mixed bag right now, tbh. I'm still holding my long position, but I've tightened my stop-loss just in case. Risk management is crucial, especially with all this uncertainty. Let's see what happens next week.

@ava2664 I'm seeing the same resistance at that 200 SMA. Given the recent Canada trade deficit news, I'm thinking we might see a bit of a pullback before any major breakout. I'm holding off on any big positions until I see how it reacts around 5140. Plus the BOE news is probably gonna affect gold too, indirectly of course.