XAUUSD Technical Analysis 25.07.2022 1h chart
– Previous Weekly candle closed Bullish at 1728 forming Support at 1707.400, the last 2 trading days of the last week have had a huge pullback as the price tapped 1680 the previous Daily Support formed on the 8th and 31st of March 2021 grabbing Liquidity on the higher timeframe.
– Buys on a close above 1734.700 targeting 1h Resistance at 1740.000 leaving Runners to 4h Strong Resistance at 1745.000.
– Sells on close below 1723.500 targeting 1h Support at 1716.200 leaving Runners to the next 1h Support at 1711.500.
– Much better Buy positions would be above 1745 to at least 1770 based on the Daily timeframe having clean traffic on the left
– Previous Weekly candle closed Bullish at 1728 forming Support at 1707.400, the last 2 trading days of the last week have had a huge pullback as the price tapped 1680 the previous Daily Support formed on the 8th and 31st of March 2021 grabbing Liquidity on the higher timeframe.
– Buys on a close above 1734.700 targeting 1h Resistance at 1740.000 leaving Runners to 4h Strong Resistance at 1745.000.
– Sells on close below 1723.500 targeting 1h Support at 1716.200 leaving Runners to the next 1h Support at 1711.500.
– Much better Buy positions would be above 1745 to at least 1770 based on the Daily timeframe having clean traffic on the left