XAUUSD Technical Analysis 05.01.2023 1h chart

– Another strong Daily close on Gold at 1854.700 as the current weekly High tapped 1865, the Wednesday Pre London session had a nice Bullish move up to more than 160 Pip push till the London open, then price consolidated on the Hourly on the bigger range.
– Buys on close above 1863.900 targeting Weekly / Daily Resistance formed on 13th June 2022 at 1871.900, Leaving Runners to the 1h Resistance formed on 13th June 2022 at 1877.000 which is also the previous Daily Support formed on 6th May 2022.
– Sells on close below 1850.100 targeting 30min Support at 1844.800, Leaving Runners to the 4h Support at 1838.800.
– We have ADP Non-Farm Employment Change forecasting 152k Previous data was 127k, Data to be released 15min after New York session opens, 15min after that we have Unemployment Claims forecasted at 230k previous data was 225k.