On the XAUUSD hourly chart we can see a bearish channel also we can see the yelow color of the Moving average indicator that means that the price is moving up for the current time.
The market started today at a higher levels than the daily pivot point at 1186.23 and due to the data we mentioned before the price may continue to go up till it hits the first daily pivot resistance which located at 1191.995 also if the WPR indicator does not show an opposite downward signals.
If we reach our target we can keep buying till the 1197.76 resistance that is very strong resistance level to reach till the end of the day.
.
![]()