#XAUUSD #Fx #GOLD $XAU
Today is Friday, and we need to be wary of potential "black swan" events in the market. The most likely scenario is a temporary truce between bulls and bears; otherwise, the "buy the rumor" sentiment will keep gold prices fluctuating at high levels, making it very difficult for bears to push prices down.
For intraday trading, as long as the price remains above 4950-4900, the strategy of buying on dips can continue. If it falls below 4900, it's time to remain on the sidelines. When the market is in a strong upward trend, there generally isn't a deep correction, and a break below this level could signal a trend reversal, so one shouldn't be too stubborn.
The upside resistance level to watch is the 5030-5050 area. If it holds and breaks through, the next target is the 5100-5150 range. However, once it enters this high resistance zone, intraday short-term trading should be quick in and out, avoiding prolonged positions.