XAUUSD Technical Analysis 23.01.2023 1h chart
– Previous Weekly candle closed small Bullish body candle at 1926.200 with a huge wick to the up/downside, However the Friday Daily candle closed Bearish forming Daily Resistance at 1932.300.
– Buys on close above 1930.700 targeting 1h Resistance at 1934.000, Leaving Runners to the Monthly Resistance formed in April 2022 at 1937.200.
– Sells on close below 1923.500 targeting 1h Support at 1920.000, Leaving Runners to the 30min previous Resistance formed on 19th January 2023 at 1915.000.
– Price of Gold is currently trading within the level of the Monthly Resistance formed in April 2022, Weekly timeframe has been Bullish since end of December 2022, There is a probability for price to form Resistance either on the Daily or the Weekly as price is approaching an area where it has consolidated on the Weekly during March and April 2022.
– Previous Weekly candle closed small Bullish body candle at 1926.200 with a huge wick to the up/downside, However the Friday Daily candle closed Bearish forming Daily Resistance at 1932.300.
– Buys on close above 1930.700 targeting 1h Resistance at 1934.000, Leaving Runners to the Monthly Resistance formed in April 2022 at 1937.200.
– Sells on close below 1923.500 targeting 1h Support at 1920.000, Leaving Runners to the 30min previous Resistance formed on 19th January 2023 at 1915.000.
– Price of Gold is currently trading within the level of the Monthly Resistance formed in April 2022, Weekly timeframe has been Bullish since end of December 2022, There is a probability for price to form Resistance either on the Daily or the Weekly as price is approaching an area where it has consolidated on the Weekly during March and April 2022.