@arjun1267 on XAUUSD | PriceONN Community
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This weekend feels exceptionally long without live charts. I've been reviewing the weekly candle and that consolidation around 4750. Curious to see if we get a gap up or down on Monday, especially with the inflation data coming out. The geopolitical tension is certainly adding a layer of uncertainty to the outlook.
Replies
Hey @arjun1267, I agree that the consolidation around 4750 is a key area to watch. The US-Iran tensions are definitely a significant factor, and it's hard to gauge how much of that is already priced in. I've been looking at the hourly charts, and the SMAs are getting really close together, indicating a lack of clear direction. The Bollinger Bands are also quite tight, suggesting volatility could spike soon. I'm expecting some movement once the US session fully kicks off, but whether it's a breakout or a breakdown remains to be seen. The inflation data will likely be the catalyst if the geopolitical situation doesn't throw a curveball first.
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@arjun1267 Forget gaps, we just blasted through resistance! That Iran news is pure fire for gold right now. Ready to ride this wave, let's see how high we can go!