XAUUSD Technical Analysis 04.08.2023 1h chart

– Previous Daily candle closed weak Bearish at 1934.200 as price ranged during the Thursday session forming a stronger Consolidation on the Hourly timeframe.
– Buys on close above 1939.000 targeting the Daily previous Support formed on 28th July 2023 at 1944.300, Leaving Runners to the 4h Resistance formed at 1950.000.
– Sells on close below 1931.000 targeting Daily previous Resistance formed on 5th July 2023 at 1926.000, Leaving Runners to the Monthly / Weekly Support formed at 1919.500.
– High Impact News ahead of the New York session for Average Hourly Earnings m/m, Non-Farm Employment Change and Unemployment Rate, High Volatility expected during the news release.