XAUUSD Technical Analysis 25.01.2023 1h chart
– Previous Daily candle closed Bullish at 1937.400 closing above recent Daily Resistance formed on 20th January 2023 at 1932.200.
– Buys on close above 1940.600 targeting 30min Resistance at 1944.100, Leaving Runners to the Daily previous Support formed on 20th April 2022 at 1949.600.
– Sells on close below 1932.200 targeting Daily Support formed at 1926.000, Leaving Runners to the 1h Support formed at 1921.300.
– The overall higher timeframe on Gold has been extremely Bullish which in this case the best Bias is to follow the trend (Bullish), Considering current price is trading within Monthly Resistance formed on April 2022 we could possibly see strong Rejection at any point to allow price to retrace and retest the recent broken Resistances.(S.R Trading Club)
– Previous Daily candle closed Bullish at 1937.400 closing above recent Daily Resistance formed on 20th January 2023 at 1932.200.
– Buys on close above 1940.600 targeting 30min Resistance at 1944.100, Leaving Runners to the Daily previous Support formed on 20th April 2022 at 1949.600.
– Sells on close below 1932.200 targeting Daily Support formed at 1926.000, Leaving Runners to the 1h Support formed at 1921.300.
– The overall higher timeframe on Gold has been extremely Bullish which in this case the best Bias is to follow the trend (Bullish), Considering current price is trading within Monthly Resistance formed on April 2022 we could possibly see strong Rejection at any point to allow price to retrace and retest the recent broken Resistances.(S.R Trading Club)