XAUUSD Technical Analysis 29th April 2024 1h chart
– Previous Weekly candle closed Bearish at 2337.800 forming Weekly Resistance around 2390s level. Friday Daily candle closed weak Bullish with a Rejection to the upside as price continues to range on the 4h timeframe. I’ll be looking for potential Buys above 2341.400 targeting 4h Resistance around 2347.200, Leaving Runners to 2352.600 for a potential Daily Wick Fill. I’ll be looking for potential Sells below 2333.500 targeting 4h Strong Support around 2327.700 and the Hourly Support formed around 2319.200. Based on how the Weekly candle closed Bearish forming no wick to the top there is a good probability for price to continue bearish for the new Weekly candle but ideally is to allow the Asian session to form a new range for the week ahead. There is also a possibility for price to range for the beginning of the week then start to see volume coming into the market leading to Wednesday / Thursday preparing for Friday for NFP and Unemployment Rate.
