XAUUSD Technical Analysis 20th January 2025 1h chart (1 Viewer)

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 XAUUSD Technical Analysis 20th January 2025 1h chart (1 Viewer)

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- Previous Weekly candle closed Bullish at 2702.300. rejecting recent Weekly Resistance. Friday Daily candle closed Bearish formed Daily Resistance at 2713.500.

- I'll be looking for potential Buys above 2706.800 targeting Daily Resistance at 2713.500 Leaving Runners to the 4h Resistance formed at 2721.700.

- I'll be looking for potential Sells below 2699.300 targeting previous Daily Resistance formed on 12th January 2025 around 2690.000 Leaving Runners to the previous Hourly Support formed on last Wednesday around 2684.000.

- The weekly candle closed weak bullish, rejecting the recent weekly resistance level. With Inauguration Day around the corner and Donald Trump making headlines again, we could see increased volatility as the market reacts to political developments. Will this bring the volume needed to break resistance, or will uncertainty keep price ranging?




 

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