Gold XAUUSD Possible Move 03.02.2025

3 Feb

Gold (XAU/USD) Analysis
Trend Structure:

The chart shows a clear uptrend, forming a series of higher highs.
Price is currently near a trendline support, indicating a potential bounce.
Key Levels:

Support Zone: $2,770 - $2,775 (Trendline & previous resistance turned support)
Target (Resistance): $2,800 (Previous high & psychological level)
Stop Loss (SL): $2,765 (Below the trendline and key support)

Trade Setup:
Entry: Around $2,770 - $2,775
Take Profit (TP): $2,800
Stop Loss (SL): $2,765
Risk-Reward Ratio: Favorable setup with a small risk and a decent upside.
Technical Indicators:

Price retesting support zone.
If it holds above support, the bullish trend could continue.

Conclusion:
If gold bounces from the support, it could head towards $2,800.
A break below $2,765 could indicate further downside.
Bullish bias remains unless the support breaks.

3 Feb

Nota

If you see at our entry, so far gold has moved 140+ PIPs in our favour. Take 70% from your trade and leave 30% with breakeven.

3 Feb

Dagangan ditutup: sasaran tercapai

Gold after taking support from trendline, reached our target in no time, and running for 250+ pips smoothly. That's a clean price action.
Enjoy the trade. Please like, comment and support.