XAUUSD Technical Analysis 5th December 2024 1h chart

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 XAUUSD Technical Analysis 5th December 2024 1h chart

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XAUUSD Technical Analysis 5th December 2024 1h chart

Wednesday Daily candle closed weak Bullish at 2649.700 within Daily Consolidation Zone as price continues to range. I'll be looking for potential Buys above 2655.500 targeting Hourly Strong Resistance formed at 2662.500 Leaving Runners to the previous 30min Support formed on 25th November 2024 around 2669.600. I'll be looking for potential Sells below 2646.500 targeting 4h Support formed at 2640.700 Leaving Runners to the 15min Support formed at 2634.300. Unemployment Claims data for the US Dollar drops during the New York session. Will this be the catalyst to break out of the daily consolidation zone?

 
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XAUUSD Technical Analysis 5th December 2024 1h chart

Wednesday Daily candle closed weak Bullish at 2649.700 within Daily Consolidation Zone as price continues to range. I'll be looking for potential Buys above 2655.500 targeting Hourly Strong Resistance formed at 2662.500 Leaving Runners to the previous 30min Support formed on 25th November 2024 around 2669.600. I'll be looking for potential Sells below 2646.500 targeting 4h Support formed at 2640.700 Leaving Runners to the 15min Support formed at 2634.300. Unemployment Claims data for the US Dollar drops during the New York session. Will this be the catalyst to break out of the daily consolidation zone?

 

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