XAUUSD Technical Analysis 19.05.2023 1h chart

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– Previous Daily candle closed strong Bearish at 1957.600 breaking below multiple higher timeframe Supports (Weekly + Daily).
– Buys on close above 1960.400 targeting previous Daily Support formed on 30th March 2023 at 1964.500, Leaving Runners to the previous Weekly Support formed around 1969.500.
– Sells on close below 1952.000 targeting 4h Support formed at 1945.600, Leaving Runners to the Daily Support formed at 1940.400.
– Fed Chair Powell due to participate in a panel discussion titled ” Perspectives on Monetary Policy ” at the Thomas Laubach Research Conference in Washington DC

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