XAUUSD moved out of the overbought area according to RSI
General outlook
XAUUSD has been under buying pressure within the last couple of hours. The RSI indicator exited the overbought area of 70.
Analysts recommend opening a Sell order with a stop loss above the previous high.
Indicator overview
The Relative Strength Index (RSI) indicator identifies potential price reversal points when it exits the overbought or the oversold areas. We use the most popular period—14 for Space posts.
Disclaimers
The upcoming news will not influence your orders within the mentioned period.
Some traders may close their positions on Friday, which can add more pressure to the market.
Share your thoughts in the comments section if it's available for you.
XAUUSDT
Perp
4,705.09
+0.11%