XAUUSD Technical Analysis 18.04.2023 1h chart
– Previous Daily candle closed bearish at 1995.100 respecting Daily Resistance formed on Friday 14th April 2023 and tapping into Daily Support formed on Tuesday 11th April 2023.
– Buys on close above 1997.300 targeting 1h previous Support formed at 2004.600, Leaving Runners to the 4h Resistance formed at 2010.600.
– Sells on close below 1985.300 targeting 1h Strong Support formed at 1978.200, Leaving Runners to the Daily Support formed at 1969.400.
– Based on how the previous Weekly candle closed forming Resistance around 2007.800 and leaving a Rejection Wick around 2048.700, there is a higher probability for price to retest the recent Weekly Support formed on 3rd April 2023.
– Buys on close above 1997.300 targeting 1h previous Support formed at 2004.600, Leaving Runners to the 4h Resistance formed at 2010.600.
– Sells on close below 1985.300 targeting 1h Strong Support formed at 1978.200, Leaving Runners to the Daily Support formed at 1969.400.
– Based on how the previous Weekly candle closed forming Resistance around 2007.800 and leaving a Rejection Wick around 2048.700, there is a higher probability for price to retest the recent Weekly Support formed on 3rd April 2023.
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