@ava_m75 on XAUUSD | PriceONN Community
A
Spent some time this weekend reviewing XAUUSD charts. The daily timeframe shows a clear uptrend, supported by the 20 and 50 SMAs. However, the Bollinger Bands are starting to widen, indicating increased volatility which makes sense given the recent price action. I'm particularly interested in how gold interacts with the R1 and R2 pivots next week, around 5083 and 5087 respectively. A sustained break above R2 could lead to a test of the 5100 level, but I'm also aware of the potential for a false breakout given the overbought conditions. Risk management is key here.