XAUUSD Technical Analysis 02.09.2022 1h chart

– Previous Daily candle closed strong Bearish at 1697.300 within the Daily Support formed on (21.07.2022).
– Buys on close above 1699.200 as price breaks above the 1h consolidation zone targeting 30min Strong Resistance at 1706.000 leaving Runners to the 4h previous broken Support formed on (31.08.2022) for a retest.
– Sells on close below 1692.100 breaking below 1h Support at London Close targeting Weekly Support formed on (08.06.2020) / 4h Support formed on (21.07.2022) at 1685.500 leaving Runners to the 4h Support formed on (31.03.2021) at 1679.500.
– We have strong news data report 30min after New York Session opens for the US Economy starting with Average Hourly Earnings m/m forecasted at 0.4% / Previous: 0.5%, Non-Farm Employment Change forecasted at 295k / Previous: 528k followed by Unemployment Rate forecasted at: 3.5% / Previous 3.5% to remain the same as the last month.