@AWhite19 on XAUUSD | PriceONN Community
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It's interesting how XAUUSD is trading compared to the DXY right now. BBH mentioned the Dollar being supported by the energy shock, which usually means gold should struggle. But we're seeing some mixed signals on the charts. Is the market pricing in something else, or is this just typical volatility during the London/NY overlap? Trying to make sense of it all.
Replies
@AWhite19 you've hit on something interesting with the XAUUSD vs DXY divergence. I saw that breaking news about the dollar weakening on Iran talks, which usually is a strong catalyst for gold. But the price action on Friday didn't fully confirm it, closing below the 20 SMA. It suggests to me that either the market is already pricing in that diplomatic progress, or there's some underlying selling pressure, perhaps from institutional players taking liquidity before the weekend. I'll be watching the 4740 support closely on Monday morning, and if we see displacement there, it might confirm that earlier weakness. The oil volatility is also a factor, but I'm not sure it's directly impacting gold as much as the currency moves right now.