XAUUSD Technical Analysis 12.01.2024 1h chart
– Previous Daily candle closed Bullish around 2029.000 forming Daily Support around 2024.300 within Daily recent range and leaving 110 pip Rejection wick to the downside.
– Buys on close above 2036.000 targeting previous Daily Support formed on 4th January 2024 around 2041.400, Leaving Runners to the 4h Strong Resistance formed on 4th January aswell around 2048.000.
– Sells on close below 2023.600 targeting previous Daily Support formed on 18th December 2023 around 2018.600, Leaving Runners to 2013.500 for a potential wick fill.
– High Impact News ahead of the New York session for the US Dollar, Core PPI m/m, PPI m/m. High Volatility expected.
– Buys on close above 2036.000 targeting previous Daily Support formed on 4th January 2024 around 2041.400, Leaving Runners to the 4h Strong Resistance formed on 4th January aswell around 2048.000.
– Sells on close below 2023.600 targeting previous Daily Support formed on 18th December 2023 around 2018.600, Leaving Runners to 2013.500 for a potential wick fill.
– High Impact News ahead of the New York session for the US Dollar, Core PPI m/m, PPI m/m. High Volatility expected.