Good day, dear traders. Today brings great news for you: we will cover the XAUUSD technical analysis and trading signals based on the daily time frame. Let’s dive into the analysis without delay.

XAUUSD (Gold) Market Analysis & Trading Signal on Daily Timeframe by Guriforex:
Gold (XAUUSD) has reached a pivotal resistance zone at $2,720, a level that has historically acted as a key turning point in the market. This area represents the upper boundary of a rising wedge pattern on the daily chart, a significant technical structure that traders are closely watching. The upcoming price action will likely determine whether gold continues its bullish trajectory toward a new all-time high or retraces to test lower support levels.
XAUUSD Technical Analysis Overview
Gold’s recent rally has brought it face-to-face with the $2,720 resistance, a zone that aligns with a possible triple-top formation. The current wedge pattern highlights two potential scenarios for the precious metal:
1️⃣ XAUUSD Bullish Scenario:
If gold breaks above $2,720 and holds above this resistance, we could see a continuation of the uptrend. The next target would likely be around $2,790, the previous all-time high (ATH), as buying momentum accelerates.
2️⃣ Gold Bearish Scenario:
On the other hand, failure to break above $2,720 and a reversal from this level could signal the start of a corrective phase. A break below the rising trendline would open the door for a move toward $2,605, the next major support level.
Key Levels to Watch
- Resistance: $2,720 and $2,790
- Support: $2,605
The trading volume near this resistance zone indicates indecision among traders, with both buyers and sellers battling for control. A clear breakout or breakdown will likely set the tone for gold’s next major move.
Fundamental Context
The backdrop of geopolitical tensions, upcoming economic policies, and investor sentiment on safe-haven assets will further influence gold’s trajectory. Market participants are also eyeing Trump’s inauguration, which could create volatility and provide the catalyst needed for a breakout in either direction.
XAUUSD Trade Plan
- Bullish Setup: Buy on a breakout above $2,720, targeting $2,790.
- Bearish Setup: Sell on a breakdown below the trendline, targeting $2,605.
What’s Your Sentiment on Gold? Share you thoughts in the comments.