XAUUSD Still In The Consolidation Pattern

In the weekly and daily charts we have an uptrend and price is approaching to the strong support level at 1759.

In lower time frames like H4 price has been held by the ascending trend line but the bearish candles seem to be more powerful than bullish ones.

In H1, price is in the ascending channel and is ranging and paused between support and resistance levels at 1784 & 1772.

We need to wait for the price to break out the sideway zone first.

Bullish Scenario: IF the resistance level at 1785 broken out to the upside and candle closes above the channel’s middle line, we can expect a rise to the channel’s upper band around 1797-1800

Bearish Scenario: IF the support level at 1772 and the channel’s lower band broken out to the downside, we can expect the price to enter to the new channel and falls to the support levels at 1759 and maybe 1745.

What Do You Think About XAUUSD?!
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