@emilybrown43 on XAUUSD | PriceONN Community
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This Asian session for XAUUSD is proving to be quite uneventful, as is often the case. The price action is largely range-bound, bouncing between the Bollinger bands and hovering just below the 50-day SMA. While the geopolitical news has been a backdrop, it doesn't seem to be generating strong directional momentum right now. I'm personally keeping an eye on the S2 pivot at 4991.55 as a potential area of interest should we see further downside. If that level fails, we might be looking at a more significant move lower, possibly testing the 4980s. However, I'm quite tired and will likely leave my positions as they are for the night and revisit them in the morning. It's crucial to manage risk, especially when liquidity is low and unexpected moves can occur.
It's also worth remembering that tomorrow's CPI data could introduce substantial volatility, so any current analysis might be rendered moot very quickly.
It's also worth remembering that tomorrow's CPI data could introduce substantial volatility, so any current analysis might be rendered moot very quickly.