@sophie5323 on XAUUSD | PriceONN Community
S
Watching the XAUUSD chart during this London/NY overlap is quite revealing. I'm noticing a bearish engulfing pattern forming on the H4 timeframe just below the 50 SMA. This, coupled with the RSI sitting below 40, suggests further downside pressure might be imminent. The news regarding Fed expectations also seems to be a significant factor weighing on gold prices right now.