XAUUSD Technical Analysis 16th January 2025 1h chart

XAUUSD Technical Analysis 16th January 2025 1h chart
– Wednesday Daily candle closed Bullish at 2695.400 closing above recent Daily Resistance formed 2690.000.

– I’ll be looking for potential Buys above 2698.000 targeting previous 1h Support formed on 12th December 2024 around 2706.000 Leaving Runners to the 4h Resistance formed on 12th December 2024 around 2714.700.


– I’ll be looking for potential Sells below 2690.800 targeting previous 4h Support formed at 2684.400 Leaving Runners to the 4h Rejection formed at 2676.800.


– High impact news ahead of the New York session for the US Dollar: Core Retail Sales, Retail Sales, Unemployment Claims, and Philly Fed Manufacturing Index. Expect volatility and high volume, stay ready!