As we can see in a daily candle, there is a price action pattern 'FLAG' which shows a bullish direction. When it breaks above trend line.
It is only possible if support doesn't break. If it breaks a support then probably there will be downfall.
& Also for bullish nature it will need DXY to go down side.
XAUUSD on a Daily candle. We can see a good support at 1700. And from upside it is following the trend line. Expecting some narrow range until it breaks the trend line.
Used trend line and 50 EMA
Time Frame: Daily candle
Indicators: 50 EMA
Line: Horizontal ( neck line)
Price Action is more accurate on big time frame. & Market always sustain around neck line. If it breaks with good strength we can see upside trend. So bullish on DXY.
Cadle is also taking support at 50 EMA.
