@snehagupta on XAUUSD | PriceONN Community
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This quiet Sydney session for XAUUSD reminds me a bit of how EURCAD can behave sometimes, just drifting sideways with very little conviction. It's like both markets are waiting for a big catalyst. I'm watching the RSI on gold, it's pretty oversold down near 26, which usually signals a bounce is due, but the longer-term trend is still bearish with the 200 SMA way up at 5083. Makes you wonder if this is just a pause before another leg down or a chance for a decent swing trade higher.