XAUUSD Technical Analysis 01.09.2022 1h chart

– Previous Daily candle closed strong Bearish at 1711.100 closing below the Daily Support formed on (27.07.2022).
– Buys on close above 1713.500 targeting 15min Resistance at 1718.700 leaving Runners to 1h previous Strong Support at 1723.000.
– Sells on close below 1705.900 targeting 30min Support at 1698.500 leaving Runners to 1h previous Strong Resistance formed on (21.07.2022) at 1693.200.
– The August Monthly candle closed Bearish at 1711.100 below the Major Monthly Support formed in October 2021 and almost closed below another Major Monthly Support formed in April 2021, There is a higher probability for price to continue the Bearish Trend to at least 1620 where Weekly Support is formed from (06.04.2020).