@RohanShah on XAUUSD | PriceONN Community

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R
RohanShah PRO newbie
XAUUSD Mar 27
This late Friday decline in XAUUSD certainly raises concerns about a potential gap opening on Monday. Given the volatility we've seen, it's not unreasonable to expect a significant move right at the open. I'll be watching to see if it fills that Friday range or continues the downward momentum. The 200 SMA at 4602 is a key level to monitor as well.
XAUUSD

Replies (1)

R
RohanShah PRO newbie Mar 27
Actually, looking at the weekly chart, that Friday close was also a massive bearish engulfing candle. If we don't see immediate buying pressure on Monday to reclaim some of those lost levels, the risk of further downside, potentially testing the pivot point around 4510, increases significantly. Need to manage risk carefully this coming week.
EURUSD 1.16118 +0.13%
GBPUSD 1.34219 +0.06%
USDJPY 159.96250 -0.05%
XAUUSD 4,465.49 +0.70%
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