XAUUSD Technical Analysis 31.08.2022 1h chart

– The previous Daily candle closed strong Bearish at 1724.300 almost filling the previous Daily candle low that was formed at 1720.500.
– Buys on close above 1726.500 as price breaks above the 1h consolidation that was held since London Close on (Tuesday) targeting 1h Resistance at 1732.500 leaving Runners to 30min Strong Resistance at 1736.800.
– Sells on close below 1721.300 on the break of the previous Daily candle low targeting Daily Support at 1717.300 leaving Runners to the next Daily Support’s Liquidity area where price tapped and respected the previous Daily Resistance formed on (12.07.2022) at 1711.800.
– We have FOMC Member Mester due to speak about the economic outlook and monetary policy at the Dayton Area Chamber of Commerce in Ohio at the New York Session Open followed by ADP Non-Farm Employment Change forecasting 300k / Previous: 128k 15mins after New York Session Open, after that we have Chicago PMI forecasted: 52.5 / Previous: 52.1.