@DeepikaKumar on XAUUSD | PriceONN Community
Regarding XAUUSD for the upcoming week, I anticipate a cautious approach. Given the volatility witnessed recently, it would be prudent to observe initial price action on Monday. I will be looking for any significant gaps at the open and how the market reacts to established support and resistance levels. A clear directional bias has not yet formed, so patience will be key.
Replies
Adding to my previous thought on the gap risk, it's also worth remembering that the overall trend has been somewhat neutral to slightly bearish for a longer period before this recent move. The jump on Friday might have been a reaction to specific news, rather than a fundamental shift. I'll be watching if this upward momentum can be sustained past the initial Monday open or if it's just a temporary spike. The 200-day SMA around 4600 is still a significant level overhead, and breaking through that convincingly would be a major bullish signal. Until then, I remain cautious about chasing any moves too aggressively.
J
Yeah @DeepikaKumar, definitely agree on waiting for the open. This whole geopolitical easing thing has really taken gold off its highs from yesterday. I was worried about overnight, but looks like things calmed down a bit. Still, I'll be watching that 4750 level closely.