XAUUSD
On the 4H chart, we can clearly see the gold has been in an uptrend since it hit the last low (1677) on the 8th of March. In the past 2 weeks the gold has repeatedly tried but failed to break below the trend line.
The 50 EMA could act as a strong support, while a break up out of the ascending triangle would take us back to February's highs.
Will stay bullish on the gold unless a break and close below the 50 EMA and the uptrend line on the daily chart happens.
On the 4H chart, we can clearly see the gold has been in an uptrend since it hit the last low (1677) on the 8th of March. In the past 2 weeks the gold has repeatedly tried but failed to break below the trend line.
The 50 EMA could act as a strong support, while a break up out of the ascending triangle would take us back to February's highs.
Will stay bullish on the gold unless a break and close below the 50 EMA and the uptrend line on the daily chart happens.