$XAUUSD Possible Short Trendline Rejection
Price closed above weekly 50EMA, but closed at descending trend line, failing to break above that level, citing possible reversal on expectation of fourth trendline rejection with LH. A failure to break above trend line will show price action continuation of bearish trend. Supporting this theory would be USD dollar index DSXY reversing it's slide from current levels as it too is at a reflection point. The powers that be have to prevent a further slide in DXY.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.