XAUUSD Technical Analysis 28.08.2023 1h chart
– Previous Weekly candle closed Bullish at 1914.400 forming Weekly Support around 1889.500, Friday Daily candle closed small Bearish at 1914.400 forming weak Daily Resistance around 1916.800.
– Buys on close above 1921.700 targeting 4h Resistance at 1926.800, Leaving Runners to the 4h previous Support formed on 4th August 2023 at 1932.800.
– Sells on close below 1910.000 targeting 1h Support formed at 1904.300, Leaving Runners to the 4h previous Resistance at 1900.000 retesting the higher timeframe Key Level.
– Ideally is to allow the Asian session to form a new range for the week ahead and look for a strong confirmation during high volume times, Monday is a Summer Bank Holiday for the UK so there is a possibility that price could range during the London session leading to the Pre New York session open.
– Buys on close above 1921.700 targeting 4h Resistance at 1926.800, Leaving Runners to the 4h previous Support formed on 4th August 2023 at 1932.800.
– Sells on close below 1910.000 targeting 1h Support formed at 1904.300, Leaving Runners to the 4h previous Resistance at 1900.000 retesting the higher timeframe Key Level.
– Ideally is to allow the Asian session to form a new range for the week ahead and look for a strong confirmation during high volume times, Monday is a Summer Bank Holiday for the UK so there is a possibility that price could range during the London session leading to the Pre New York session open.