XAUUSD Technical Analysis 31.01.2023 1h chart

– Previous Daily candle closed Small Bearish candle below Daily Support formed on Monday 23rd January 2023 at 1926.100.
– Buys on close above 1933.600 targeting 4h Resistance at 1938.400, Leaving Runners to the 30min Resistance at 1943.800.
– Sells on close below 1921.600 targeting 1h Support at 1916.500, Leaving Runners to the 1h previous Resistance formed on Thursday 19th January 2023 at 1912.600.
– Despite the Monday daily candle closed below recent Daily Support formed on Monday 23rd January 2023, Price is still in Consolidation trading within the Daily Rejection wicks, So its much better to have small targets for both Buys and Sells until we see a good confirmation price leaving the Consolidation Zone.