XAUUSD Technical Analysis 02.11.2022 1h chart

– Previous Daily candle closed Bullish at 1647.900 forming Daily Support at 1633.600 as these short term Buys could be Liquidity Grab and to allow current Weekly candle to form top wick retesting Weekly Resistance formed last week around 1657 before Gold price falls as another rate hike expected tomorrow (Wednesday) by the Federal Reserve.
– Buys on close above 1650.100 targeting 4h Resistance at 1654.500, Leaving Runners to the Strong 4h previous Support formed on Wednesday the 26th + Friday 28th October 2022 at 1661.800.
– Sells on close below 1643.600 targeting 1h Support at 1637.500, Leaving Runners to the next 1h Support formed at 1632.000.
– High Impact News for the US Economy starting with ADP Non-Farm Employment Change 15min after New York Session opens forecasted at : 178k / Previous : 208k. Later on we have FOMC Statement, Federal Funds Rate forecast an increase to 4.00% from 3.25%, 30min after we have FOMC Press Conference as  Chair Jerome Powell first read the FOMC statement then questions are opened to the Press, high Volatility expected during the Press Conference.