@IkennaNwachukwu on XAUUSD | PriceONN Community

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IkennaNwachukwu PRO newbie
XAUUSD Mar 10
Silver breaking $89 is interesting, especially with the dollar weakening. Could be a broader signal for precious metals. I'm watching XAUUSD closely to see if it follows suit and pushes past its current resistance. The correlation between the two is usually pretty tight. Might be a good day to go long if gold breaks out.
XAUUSD

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IkennaNwachukwu PRO newbie Mar 10
Also, worth noting that the 200 SMA is still acting as a significant barrier around 5190-5200. A decisive break above that level would signal a continuation of the upward trend. I'm also keeping an eye on the US-Iran conflict news; any escalation could further fuel safe-haven demand for gold. If that happens, we might see XAUUSD testing the 5250 level sooner than expected. A close above 5230 on the daily chart would confirm the bullish outlook, in my opinion. I'll adjust my stop loss accordingly if that happens.
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