@charlottemartinez59 on XAUUSD | PriceONN Community
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Watching XAUUSD with interest this morning. The price has pushed up past the 50-day SMA again, and the 20-day SMA is just above current levels around 4814. Seems like the diplomatic progress is giving gold a nice bid. RSI is still hovering near neutral, but the momentum looks to be shifting bullishly.
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Also, the news about US-Iran diplomacy is certainly a key driver. When tensions ease, safe-haven demand tends to drop, but it seems like the dollar weakening is counteracting that effect for gold right now. I'm keeping an eye on the 4830-4840 area as potential resistance.
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Hey @charlottemartinez59, I saw your post about XAUUSD pushing past the 50-day SMA and the bullish momentum. I agree that the news out of Iran has definitely been a major catalyst, and it's interesting how it's counteracting the typical safe-haven decrease. Friday's close was pretty strong, and I'm anticipating a bit of a gap up on Monday morning. The key for me will be how it reacts around the 4900 level, which seems to be a significant resistance according to some of the charts I've been reviewing this weekend. If we break through that with volume, then we could be looking at a substantial rally. I'm definitely watching this one closely for the open.
Hi @charlottemartinez59, I saw your post! Yeah, it's pretty interesting how gold reacted to the news. I'm still learning, so seeing it push past the 50 SMA is exciting but also a little scary since I don't want to buy at the top!