XAUUSD Technical Analysis 01.11.2023 1h chart
– Previous Daily candle closed Bearish around 1983.800 respecting Daily Resistance formed on Monday, October Monthly candle closed extremely Bullish breaking and closed above Monthly Resistance formed in August 2023 closing just below Monthly Resistance formed in May 2023, Forming Strong Monthly Support around 1848.000
– Buys on close above 1987.000 targeting 1h previous Support formed at 1992.200, Leaving Runners to the 4h Resistance formed around 1997.200.
– Sells on close below 4h previous Resistance formed on 25th October 2023 around 1974.700, Leaving Runners to the Daily Support formed around 1970.600.
– High Impact News ahead of the US Dollar, starting with ADP Non-Farm Employment Change, ISM Manufacturing PMI, JOLTS Job Openings and ISM Manufacturing Prices, Later on the day we have Federal Funds Rate, FOMC Statement followed by FOMC Press Conference. High Volatility expected.
– Buys on close above 1987.000 targeting 1h previous Support formed at 1992.200, Leaving Runners to the 4h Resistance formed around 1997.200.
– Sells on close below 4h previous Resistance formed on 25th October 2023 around 1974.700, Leaving Runners to the Daily Support formed around 1970.600.
– High Impact News ahead of the US Dollar, starting with ADP Non-Farm Employment Change, ISM Manufacturing PMI, JOLTS Job Openings and ISM Manufacturing Prices, Later on the day we have Federal Funds Rate, FOMC Statement followed by FOMC Press Conference. High Volatility expected.