XAUUSD

As per the graph, you can see the following:

- There was a breakthrough of the ascending channel and an impulse to the downside.
- There was a retest and rejection of the previous trendline indicating a pattern change.
- The pair continues to make Lower highs and Lower lows which indicates the pair is losing strength.
- RFI indicates that the pair is losing strength.
- There is strong daily and weekly resistance/support levels as indicated by the red horizontal line.