XAUUSD Technical Analysis 7th November 2024 1h chart

XAUUSD Technical Analysis 7th November 2024 1h chart
– Wednesday Daily candle closed strong Bearish at 2658.500 tapping into Weekly Support formed at 2652.000. I’ll be looking for potential Buys above 2676.000 targeting 1h previous Support formed on 17th October 2024 around 2688.800 Leaving Runners to the Strong Key Level at 2700.000. I’ll be looking for potential Sells below 2652.000 targeting 4h Support formed on 11th October 2024 around 2638.000 Leaving Runners to the 4h Support formed at 2620.000. Major market-moving news is expected ahead of the New York trading session, with the US Dollar in focus as the Federal Reserve reviews its benchmark interest rate. Investors and traders are closely watching for any signs of policy adjustments, as the Fed’s decision could have far-reaching effects on inflation, economic growth, and overall market sentiment.