XAUUSD Technical Analysis 31.10.2022 1h chart

– Previous Weekly candle closed Bearish at 1644.300 forming Weekly Resistance at 1657.600.
– Buys on close above 1650.600 targeting Weekly Resistance at 1657.600, Leaving Runners to the Daily / 4h Resistance at 1665.600.
– Sells on close below 1639.500 targeting 1h previous Support formed on 20th October 2022 at 1632.700, Leaving Runners to the Daily Support formed at 1628.200.
– Major news event this upcoming week for the US Dollar reviewing Federal Funds Rate forecasted to raise rates to 4.00% from 3.25% on Wednesday, then we have Non Farm Payroll (NFP) this Friday.
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