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Just closed my long on XAUUSD around 4505. Was a bit nervous holding it overnight with all this talk of recession and geopolitical risk. But that US-Iran news gave it the push it needed. Nice +70 pips for the session. Time for some sleep I think.
Yeah, I think the push from the Iran talks is probably temporary. The underlying weakness from that recession chatter is still there. I'll be looking to short any move back towards the 200 SMA if it gets there, probably around 4800, as a contrarian play. Need to see how DXY reacts too.
