XAU/USD-1 Hour analysis

Hello everybody!

-On 1 hour chart, we can see that the price is moving sideways in a channel, the price respects support and resistance zones prety well.

-We can also see that the price tested support line and then the price formed a nice bullish hammer and then the price started moving in a bullish direction.

-I expect that the price is going to keep pushing in a bullish direction if USD remains week and if USD gains more power then I expect bearish movement.

-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!

THANKS FOR READING!

-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.

-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.