In a liquid measuring cup, stir together the water, molasses (or honey), and olive oil until the molasses is fully dissolved.
Set aside.
In a coffee grinder or small food processor, grind 3 tablespoons (45 ml / 1.5 fl oz) of the flaxseeds into a fine powder.
Transfer the ground flaxseeds to the bowl of a food processor fitted with the metal blade.
Add the whole wheat flour, bread flour, milk powder, yeast, and salt. Pulse a few times to combine.
With the food processor motor running, slowly pour the liquid mixture through the feed tube. Process until a smooth dough forms and it pulls away from the sides of the bowl. If the dough seems too stiff, add more water, 1 tablespoon (15 ml / 0.5 fl oz) at a time.
Continue to process for 1 minute to knead the dough.
Lightly grease a large bowl with olive oil.
Transfer the dough to the bowl, turning it over to coat all sides with oil.
Cover the bowl with plastic wrap and let it rise in a warm place for 1¼ to 1½ hours, or until doubled in size.
Gently turn the dough out onto a lightly floured surface and shape it into a round or oval loaf.
Place the loaf on a baking sheet lined with parchment paper or coated with cooking spray.
Cover loosely with greased plastic wrap and let it rise for another hour, or until it has almost doubled.
Preheat your oven to 400°F / 200°C. Uncover the loaf and brush the top with the beaten egg white.
Sprinkle with the remaining 1 tablespoon (15 ml / 0.5 fl oz) of whole flaxseeds.
Using a sharp serrated knife, score the top of the loaf with four ¼-inch-deep slashes.
Bake for 25 to 35 minutes, until the crust is golden brown and the loaf sounds hollow when tapped on the bottom.
Let it cool completely on a wire rack before slicing.