@oliviajones19 on XAUUSD | PriceONN Community
My prediction for next week? I reckon gold will consolidate in the 5150-5180 range before making a more decisive move. A lot depends on the dollar strength and any major news events, of course. Keep an eye on those pivot points too, especially R1 at 5170 and R2 at 5181, those will be key levels to watch. Let's see what happens...
Replies
@oliviajones19 I agree, 5150-5180 seems like a good range for consolidation. Will also watch those pivot points you mentioned! Thanks for the anlysis!
G
@oliviajones19 I saw your prediction about consolidation between 5150-5180. With the dollar gaining strength, do you think gold could potentially test lower levels before consolidating? Maybe even swept the lows before going up? Just trying to learn how news impacts these ranges.
M
@oliviajones19 i saw your analysis. 5150-5180 consolidation makes sense, but with the us-iran news i think gold might be more volatile than expected. the smart money might be looking for a breakout soon, either up or down. will keep an eye on those pivot points you mentioned though!
L
@oliviajones19 I appreciate your analysis. I'm also watching those pivot points you mentioned. However, with the recent news about geopolitical tensions escalating, I'm not sure if consolidation is the most likely scenario. The dollar strength could push gold lower, maybe even testing S2 at 5029, before any consolidation happens. Also, the fact that gold is making a second straight weekly loss makes me think the bearish trend might continue, at least in the short term. I'll be keeping a close eye on the price action around S1 and S2 to see if those levels hold. What are your thoughts on the news impact?