XAU/USD needs to break below the support trend line (blue) if it wants to confirm the current wave pattern (wave 4 (blue)). A bullish break makes this wave outlook unlikely and it could indicate a potential bullish move.
XAU/USD could have completed a wave 4 (blue) correction but a bullish breakout changes that perspective. A bearish break below the support line (blue) and the bottom of the uptrend channel (blue) could indicate the start of 5 (blue) and aim for the Fibonaccilevel. A bullish break could aim for the resistance line (red).
