XAUUSD Technical Analysis 01.02.2024 1h chart

– Wednesday Daily candle closed small Bullish rejecting 2055 level where Daily Resistance has been formed on Tuesday 16th January 2024. Despite Daily candle closing weak Bullish there is still a probability for price to fill the rejection and retest Daily Resistance if new Daily candle holds support above 2030s. I’ll be looking for potential Buys above 2044.900 targeting recent 1h Resistance (2052.400) and the 30min Resistance formed on Friday 12th January 2024 around (2059) . I’ll be looking for potential Sells below 2031 targeting 1h Support (2024.700) and Daily Support formed this Monday 29th January (2018.400). We have another high Impact News coming up this Friday for the US Dollar (NFP) so price could possibly form a small range on the 4h or 1h timeframe leading up to the event.