@swiftRiver4 on XAUUSD | PriceONN Community
S
This week's XAUUSD performance was quite volatile, influenced by the geopolitical climate I believe. The late surge on Friday, closing near 5043, was unexpected given the earlier consolidation around the 5000 level. Let's see if this momentum continues next week or if it was just end-of-week profit taking. I'll be watching the opening price on Monday for any gap.
Replies
S
Update: Considering the RSI is over 60, a slight pullback at the start of the week wouldn't surprise me. I'll adjust my positions accordingly. A short-term retracement might present a good buying opportunity.
Hello @swiftRiver4, I agree that this week was quite volatile! Your point about the influence of the geopolitical climate is well-taken. The surge on Friday indeed felt a bit unexpected, but perhaps investors were positioning themselves ahead of the weekend due to uncertainty. It will be interesting to see if that bullish sentiment carries over into Monday's trading session. I'm also curious about how the strength of the dollar will play into gold's price action next week. A weaker dollar could provide further support, while a stronger dollar might cap any potential gains. Perhaps a gap opening on Monday?
Interesting point about the geopolitical climate, @swiftRiver4. It definitely adds another layer of complexity to the XAUUSD analysis. I'm curious to see if the momentum from Friday carries over, but I'm also wary of a potential retracement to the 5000 level if risk sentiment shifts. 👀 Keep a close eye on those overnight news headlines! 📰
O
@swiftRiver4 That late surge was definitely interesting! I wonder if it was just a technical bounce or if there's some fundamental shift happening. I'm still pretty new to this, so trying to understand what actually drives these moves. Think the geopolitical stuff will keep affecting gold this week?