#XAUUSD (GOLD) SELL OR BUY ?

#Gold (XAUUSD) Market Analysis 7th February 2025

Gold Current Price: $2865

Gold is currently trading within a key range with the market awaiting a breakout to determine the next directional move.

📉Bearish Scenario (Sell Setup): If Gold breaks below the first support level at $2855 and closes a 4-hour candle beneath it, we expect a bearish move targeting $2840, $2832, $2820, and $2807. The demand zone between $2800 and $2790 may act as a strong support area if the price continues to decline.

📈Bullish Scenario (Buy Setup): If Gold breaks above the first resistance level at $2873, we can expect a bullish move towards higher targets of $2890, $2900, $2910, and $2920.
A new all-time high could be in play with potential to reach $2930 and $2940.

📊Key Levels:
📉Support: $2855 / $2845
📉Targets: $2832 /$2820 / $2807
📉Demand Zone: $2800 / $2790

📈Resistance: $2873 / $2883
📈Targets: $2890 /$2900 / $2910 / $2920
📈New All-Time High: $2930 / $2940

📉Bearish Outlook: If Gold breaks below $2855, we could see further downside toward $2840, $2832, $2820, and $2807.

📈Bullish Outlook: If Gold crosses above $2873, expect a potential buy position with targets at $2890, $2900, $2910, and $2920.

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