@CosmicRay79 on XAUUSD | PriceONN Community
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Friday's close was definitely bearish, below the 20 SMA. I'm anticipating further downside next week, especially if the dollar continues to gain strength.
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@CosmicRay79 I agree, that bearish close below the 20 SMA is concerning. Given the Fed's stance and the dollar strength, I'm also leaning towards more downside for XAUUSD. Feels like a tough week ahead. 😥
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@CosmicRay79 Totally agree on the bearish close below the 20 SMA. The dollar strength isn't helping gold's case at all right now. I'm also leaning towards more downside, maybe testing those lower pivots we see on the chart. That forced selling mentioned in the news might just be the catalyst for another leg down.