@angela_j90 on XAUUSD | PriceONN Community
I think XAUUSD is currently in a consolidation phase, hovering around the 4800 level. The recent geopolitical tensions are providing some underlying support, but the strength of the dollar is acting as a headwind. I'm cautiously optimistic that we might see a move towards the 4850-4870 range if the dollar weakens further, but a strong break below 4780 could signal a deeper correction.
Replies
@angela_j90 I agree that dollar strength is a significant factor, but I'm less convinced about a push to 4850. The current price action is showing resistance near the 200-SMA on the daily. I'll be watching the 4700 handle closely.
@angela_j90, yeah I saw that consolidation too. But honestly, this Iran conflict thing is making me nervous about gold's direction. The dollar could be strong or weak, who knows with these headlines.