TECHNICAL ANALYSIS OF XAUUSD  (GOLD) 25 JAN 2023

XAUUSD (GOLD) trading under a range of $1940 and $1910. In hourly chart it is forming dabbles top formation so we can expect down side movement and taking support of 200 EMA which is near to $1920 if it breaches this mark then we can see next support level of $1910 and $1900. On up it is taking resistance of 21 days and 09 days EMA resistance which is near around $1935. If it holds this mark then we can see up side movement towards next resistance level of $1950 and $1965. The Gold price is on track for a crash should the US dollar bust to life given the placement of the price in the market structure. The US Dollar has been testing the daily trend line resistance.