Happy Friday, dear traders! Today we come with the world-famous trading pair: yes, it’s Gold. Let’s dive into the analysis without delay.
Gold (XAUUSD) Technical Analysis and Trading Signals By Guriforex for February 14
Gold (XAUUSD) remains extremely bullish, with prices testing a key resistance level at 2935. This level has acted as an important barrier, and a confirmed breakout could drive gold toward 2963, aligning with the current market sentiment favoring safe-haven assets.
📊 XAUUSD Key Market Insights & Technical Analysis
Gold Bullish Trend:
XAUUSD continues to move within an ascending channel, reflecting strong buying momentum. Recent pullbacks have been supported by higher lows, indicating steady demand.
Key Level at 2935:
This zone has been tested multiple times, and a breakout above this level could trigger more upside movement. Traders should watch for strong bullish candles to confirm the breakout.
Target Price 2963:
Given the ongoing bullish sentiment, a successful break above 2935 could lead to a move toward 2963, making it a solid profit-taking level.
XAUUSD Stop Loss 2923:
A safety stop is placed at 2923 to minimize risks in case of a sudden reversal.
Global Market Sentiment:
- U.S. Economic Data: Recent inflation reports and Federal Reserve statements suggest that interest rates could remain steady, providing continued support for XAUUSD.
- Geopolitical Tensions: Rising uncertainty in global markets has strengthened demand for safe-haven assets like gold.
- Weaker USD: A weaker dollar often boosts gold prices, and recent DXY movements indicate a softer outlook for the greenback.
📈 Gold Trading Plan – Bullish Scenario
🟢 BUY GOLD (XAUUSD) if price sustains above 2935
🎯 Target Profit (TP): 2963
🔴 Stop Loss (SL): 2923
💡 Strategy: A confirmed breakout and retest of 2935 as support could provide an ideal buying opportunity. Watch for volume confirmation before entering.
💬 What’s Your View on XAUUSD?
Will XAUUSD break higher toward 2963, or do you see a reversal coming? Share your thoughts below!
🔥 If you’re bullish on XAUUSD, hit 📈📈📈! 🔥