XAUUSD Technical Analysis 19.12.2023 1h chart

– Previous Daily candle closed Bullish around 2027.300, forming Daily Support around 2019.600 as price almost retest recent Daily Resistance formed on Friday last week.
– Buys on close above 2033.800 targeting 4h Resistance formed around 2042.800, Leaving Runners to the 15min Resistance formed around 2048.000.
– Sells on close below 2017.500 targeting previous 4h Support formed on 27th November 2023 around 2009.600, Leaving Runners to the Weekly Support formed around 2004.100.
– The No Trade Zone area is much bigger than usual due to recent Price Action consolidating on the lower timeframe, also as we approach end of the year it is expected to see a reduce in volume. It is extremely important to wait for strong confirmation with a good risk management plan.