Gold Wave Analysis – 10 February 2025
- Gold broke resistance area
- Likely to rise to resistance level 2950.00
Gold continues to rise strongly after the earlier breakout of the resistance area located between the key resistance level 2878.00 (which stopped the price at the start of February) and the resistance trendline of the daily up channel from the start of this year.
The breakout of this resistance area accelerated the active short-term impulse wave 3 of the higher-order impulse wave (3).
Given the strong uptrend that can be seen on the daily and the weekly charts, Gold can be expected to rise to the next resistance level 2950.00, target price for the completion of the active impulse sequence (3).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.