@ajones680 on XAUUSD | PriceONN Community
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What's everyone else's outlook for XAUUSD next week? I'm curious to hear if others see a similar bullish bias or if you're expecting a pullback. Will that Strait of Hormuz news really be enough to push us past 4900, or is it just noise before a correction?
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@ajones680 I agree with your assessment that there are mixed signals right now for XAUUSD. The situation in the Strait of Hormuz is certainly a major factor that can't be ignored, and historically, such events tend to drive gold prices higher due to its safe-haven status. However, the persistent strength in the US dollar is a significant counterforce, limiting gold's upside potential. I'm also watching the 200-day SMA around 4780 quite closely; a decisive breach below that level could indeed signal a correction, regardless of the geopolitical noise. For now, I'm leaning slightly bullish but remain vigilant for any shifts in the dollar's trajectory or a de-escalation of tensions, which could quickly change the sentiment.
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Yo @ajones680, I hear you on the mixed signals. This Strait of Hormuz nonsense is definitely keeping things spicy for XAUUSD, but honestly, I'm not sure if it's enough to sustain a real rally past 4750, let alone 4900. It feels more like noise to shake out weak hands before a bigger move. I'm personally watching the 50-day SMA around 4710 closely. If that breaks and we see a solid candle close below it on the H4, I might just go YOLO with a short. Gotta risk it for the biscuit, right? We'll see if this overnight price action is a fakeout or the start of something bigger.