XAUUSD Technical Analysis 29.01.2024 1h chart
– Previous Weekly candle closed small Bearish around 2018.600, Friday Daily candle closed weak Bearish forming Daily Resistance around 2021.100 as price ranging on the 4h and the Daily timeframe.
– Buys on close above 2024.700 targeting Strong Daily Resistance formed on 24th January 2024 around 2029.800, Leaving Runners to the 4h Resistance formed around 2035.300.
– Sells on close below 2013.800 targeting 4h Strong Support formed around 2009.000, Leaving Runners to the Weekly Support formed on 11th December 2023 around 2004.000.
– Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.
– Buys on close above 2024.700 targeting Strong Daily Resistance formed on 24th January 2024 around 2029.800, Leaving Runners to the 4h Resistance formed around 2035.300.
– Sells on close below 2013.800 targeting 4h Strong Support formed around 2009.000, Leaving Runners to the Weekly Support formed on 11th December 2023 around 2004.000.
– Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.