XAUUSD Technical Analysis 19th December 2024 1h chart

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 XAUUSD Technical Analysis 19th December 2024 1h chart

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Wednesday Daily candle closed extremely bearish around 2584.700 breaking below recent Weekly Support and approaching the previous Monthly low . I'll be looking for potential Buys above 2595.000 targeting 15min Resistance at 2607.500 Leaving Runners to the next 15min Resistance around 2620s. I'll be looking for potential Sells below 2580.000 targeting 30min Support formed on 18th November 2024 around 2570.500 Leaving Runners to the 4h Strong Support formed on 15th November 2024 around 2559.300. Gold closed with strong bearish momentum, breaking below the 2600s. With key events like Unemployment Claims, Final GDP q/q, Final GDP Price Index, Philly Fed Manufacturing Index, and Existing Home Sales ahead, will the news trigger a retracement to correct the bearish move, or drive further downside?




 

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