XAUUSD Technical Analysis 06.02.2023 1h chart

– Previous Weekly candle closed strong Bearish candle at 1865.900 weekly candle measuring almost 1000 Pips, Forming Weekly Resistance at 1928.000.
– Buys on close above 1869.000 targeting Daily previous Support formed on 12th January 2023 at 1875.900, Leaving Runners to the 30min previous Support formed at 1881.000.
– Sells on close below 1861.500 targeting Daily previous Resistance formed on 5th January 2023 at 1855.000, Leaving Runners to the 1h previous Support formed on 6th January 2023  at 1851.800.
– There is a higher probability for price to retrace and correct some of the bear moves we’ve seen on Friday 3rd February 2023 after NFP and Unemployment Rate.