XAUUSD Technical Analysis 22nd November 2024 1h chart
– Thursday Daily candle closed Bullish at 2669.200 as price starts to range on the Hourly timeframe. I’ll be looking for potential Buys above 2673.000 targeting previous 1h Support formed on 8th November 2024 around 2682.700 Leaving Runners to the Hourly Resistance formed at 2689.300. I’ll be looking for potential Sells below 2663.300 targeting 30min Support at 2656.000 Leaving Runners to the 4h Support formed at 2649.300. Major economic events are set to drive market price action ahead of the New York session, with a focus on the US Dollar. Key releases include the Flash Manufacturing PMI and Flash Services PMI, which provide early insights into the health of the manufacturing and service sectors. Additionally, the Revised University of Michigan (UoM) Consumer Sentiment report will offer a crucial update on consumer confidence, potentially impacting market sentiment and USD volatility. Traders should be prepared for significant movements during this period.
