XAUUSD: Breakout Opportunity

XAUUSD, H4

On the H4, XAUUSD has formed a descending channel pattern in a short-term bearish trend. Price is testing the upper trend line, and Momentum crossed 100.0. Considering the growing bullish sentiment, we can expect growth when the trendline is broken and growth above the nearest fractal.

• XAUUSD may be considered for a buy on a rise above 2395 and the nearest fractal with a target of 2422;