XAUUSD: Trend Breaking?

XAUUSD, H4

On the H4, XAUUSD reached a downtrend line after a short-term rise. The price is approaching the critical resistance area and MA200, which also acts as resistance. In this case, two scenarios are possible.

• If Gold breaks the resistance of 2350, the trend line and MA200, a bullish trend will start up to 2385;

• Otherwise, a rebound will drop XAUUSD back to 2310 support;