Good morning dear traders, Today is the 1st day of trading in February. We have come with XAUUSD (Gold) market technical analysis on the daily chart. Let’s dive into the analysis without delay.

Today’s XAUUSD (Gold) Market Analysis on Daily Chart by Guriforx:

XAUUSD Market has made headlines by breaking its all-time high, reinforcing its strong bullish trend. However, after this significant move, the market has entered a retracement phase, leaving traders with two potential scenarios: continuation toward new highs or a deeper pullback before another rally.

Key Technical Levels to Watch

Resistance & Upside Potential:

• Gold recently breached its all-time high but is struggling to hold above this level.
• If the daily candle closes above the all-time high, it could trigger another leg up toward 2,817 and beyond.
• A breakout and sustained move above this level would confirm bullish strength and push prices higher.

Support & Possible Pullback:

• The 2,770 level is acting as immediate support.
• If Gold closes below 2,770, we could see a further decline toward 2,731, where buyers may step in again.
• A deeper pullback could test the 2,700-2,720 demand zone, aligning with historical price reactions.

Hidden Order Block (OB) Zone:

• The Hidden OB indicates a potential liquidity area where price might react.
• If price retraces into this zone and finds support, it could provide a buying opportunity for traders.

Possible Trading Scenarios

🔼 Bullish Breakout (Daily Close Above All-Time High):

• If XAUUSD Market maintains strength and closes above resistance, the next upside target will be 2,817.
• A strong breakout could lead to a continuation rally, attracting more buyers into the market.

🔽 Bearish Pullback (Daily Close Below 2,770):

• A breakdown below 2,770 could trigger a decline toward the 2,731 support level.
• If this level fails, Gold may drop further to 2,700 before finding new buyers.

Fundamental Factors Driving Gold

💰 Global Economic Uncertainty:

• Safe-haven demand continues to support XAUUSD Market, especially amid economic uncertainty and geopolitical tensions.

📊 US Dollar & Interest Rates:

• The US Federal Reserve’s stance on interest rates plays a key role in Gold’s price movement.
• A weaker USD generally supports Gold, while hawkish Fed policies may pressure prices.

📈 Inflation & Market Sentiment:

• If inflation remains elevated, investors may seek Gold as an inflation hedge, keeping the bullish momentum intact.

Conclusion: XAUUSD Market at a Decision Point

Gold is currently at a critical juncture, with price action deciding whether to continue higher or retrace further. Traders should closely monitor the daily close to confirm the next move.

💬 What do you think? Will Gold sustain its bullish trend or pull back before another rally? Drop your thoughts below! 🔥🚀