XAUUSD long 24/5/23
XAU analysis
* Price broke out of bearish channel which took shape between 10/5/23 - 18/5/23
* On 23/5/23 price formed a FVG (Fair Value Gap) @ 16:00 (GMT +3) on 4H TF
* BOS (Break of Structure) occurred as price failed to close below 1958.879
* Price ranging between BOS @ 1958.879 and 1980.695
* Candle sticks indicating bullish momentum since forming the last LL (Lower Low) @ 1955.645 on 18/5/23
DXY analysis
* Bullish momentum from the 4/5/23 slows
* Debt ceiling uncertainty weighs on dollar as a deal has still not yet been struck as of 24/5/23
* Bearish trend line from 28/9/22 comes back into play (I.e., major trend)
* Price hit resistance as it fails to break and hold above the key 103.6 level
* Price broke out of bearish channel which took shape between 10/5/23 - 18/5/23
* On 23/5/23 price formed a FVG (Fair Value Gap) @ 16:00 (GMT +3) on 4H TF
* BOS (Break of Structure) occurred as price failed to close below 1958.879
* Price ranging between BOS @ 1958.879 and 1980.695
* Candle sticks indicating bullish momentum since forming the last LL (Lower Low) @ 1955.645 on 18/5/23
DXY analysis
* Bullish momentum from the 4/5/23 slows
* Debt ceiling uncertainty weighs on dollar as a deal has still not yet been struck as of 24/5/23
* Bearish trend line from 28/9/22 comes back into play (I.e., major trend)
* Price hit resistance as it fails to break and hold above the key 103.6 level
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