XAUUSD - Daily trend

Daily:

We could be morphing into some kind of triangle formation on the daily timeframe. On the chart you can see what is possibly a key resistance level for this triangle to hold.

Again, just like before the breakout can be strong. We’re not really concentrating on the upside levels at the moment, not until a breakout upwards. A breakout downwards can open the levels below.

We'll get a clearer picture on the lower timeframes one the market is open.

As always, trade safe.