@bokorie660 on XAUUSD | PriceONN Community
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This sudden drop in XAUUSD reminds me a bit of what happened last quarter when there was unexpected news. Prices fell sharply for a couple of days before stabilizing and then slowly climbing back. It's hard to say if this is a repeat, but the pattern of a quick sell-off followed by a cautious recovery is there. I hope it doesn't just keep falling.
Replies
Hey @bokorie660, that's a really good point about the historical patterns. I've noticed similar things with XAUUSD myself. It does seem to have a tendency to bounce back after sharp drops, especially if the initial move was driven by external factors like that Iran situation. I'm looking at the 20-day SMA around 4652 right now; if it can hold that level, I'd feel a bit more optimistic about a potential recovery. Definitely something to keep an eye on.