GOLD → The new ATH is not the limit. What are the new targets?

31 Jan

XAUUSD updates ATH to 2800 and at the same time bulls are consolidating above the previously broken high, trying to form a base for continued gains



Gold updates all time high to $2800, amid a weaker US dollar and the threat of high tariffs from Trump, who again warned of possible 100% duties against BRICS countries, as well as a 25% tax on imports from Canada and Mexico, which boosted demand for protective assets. Investors are waiting for the US PCE Core Price Index data to gauge the Fed's next steps.
Technically, now the focus is on 2 levels: 2798.5, which is a trigger for the continuation of growth and support at 2785, behind which there is a huge pool of liquidity. Gold needs to overcome 2798.5 to continue rising, but before that a retest of the support may be formed due to the liquidity under the level.

Resistance levels: 2798.5, 2800, 2810-15
Support levels: 2790, 2785, 0.5 fibo

In general, gold has a bullish price movement. There are no hints of a trend breakdown, so the chance for the continuation of the growth is quite high and it can happen either when the trigger is broken or after a small consolidation or correction before the news. Emphasis on the previously mentioned levels and news.

Regards R. Linda!

31 Jan

Dagangan aktif

Gold breaks resistance, the specified trigger is triggered and the price forms an impulse for 90 pips