The short-term technical analysis for XAUUSD suggests a bearish outlook based on key indicators. The price is currently hovering around the Simple Moving Average (SMA) 200 on the H1 timeframe, and the Relative Strength Index (RSI) is at approximately 40, indicating a relatively low level. This analysis anticipates a decline in price towards the $1950 USD mark.
I've initiated a short position on EUR/USD in the short term, guided by a confluence of technical indicators. Firstly, the currency pair is trading below the crucial 200-period Simple Moving Average (SMA) on the hourly chart (H1), indicating a potential shift in momentum favoring the downside.
Furthermore, the Relative Strength Index (RSI) has dipped below the 50...
