Here’s a technical perspective on XAUUSD.
On the daily time frame, price action was respecting an outer ascending trendline (red) from November 2018 but has moved further northward to respect an inner ascending trendline (black), an indication of an increase in bullish momentum. Furthermore, looking left, we can see that a bullish break of the previous descending trendline (magenta) apparently gave way to an impulsive northward wave; and we are likely riding an impulsive rather than a corrective wave at the moment. At any rate, as long as the outer ascending trendline (red) holds on a daily closing basis, we can have confidence in a bullish drive.
I may be wrong. Trade safe and prosper.
