XAUUSD 1D Bullish Trend with All-Time High
XAUUSD 📶Technical Analysis
Weekly (1W) Chart:
🟢 From 2020 to 2023, the price of gold tested the $2000 level several times before breaking through the $2000 resistance towards the end of 2023, leading to a strong bullish trend.
🟢 This breakout fueled a new all-time high of $2790 as the bullish momentum continued into early 2024.
Daily (1D) Chart:
🟢 In 2024, gold prices have surged by approximately +30%, continuing the strong uptrend.
🟡The price is now approaching the previous all-time high and is poised to test this significant level. If the price breaks above this resistance, there is potential for further upside movement.
4-Hour (4H) Chart:
🟢 Since October 2023, the trend has been clearly bullish, with a consistent rise.
🟡 The price is now nearing the all-time high, and a breakout above this level could see the price continue to rise, possibly with momentum-driven gains.
🆕Fundamental Analysis:
🟢 Global Insecurity & War Escalation: Gold has historically been a safe-haven asset, with its price driven by global uncertainty and geopolitical tensions, such as escalating wars or conflicts.
🟢 De-dollarization: As central banks around the world move towards gold reserves in response to concerns about the US dollar’s strength, gold is benefiting from this trend.
🟢 Post-COVID Economic Situation: Following the pandemic, the world experienced high inflation and central banks responded with interest rate hikes. These measures have slowed economic growth and increased the risk of a recession, further boosting demand for gold as a store of value.
🔤 Conclusion:
🟢 XAUUSD remains in a strong bullish trend, with the price pushing towards its all-time high at $2790. A breakout above this level could lead to further price increases.
🟢 The fundamental drivers behind gold’s price growth include global geopolitical tensions, de-dollarization, and economic instability.
🟡 Traders should watch for a breakout above the all-time high to confirm continued bullish momentum, while also being mindful of the fundamental factors that could continue to push gold prices higher.
🟠 If the resistance at the previous all-time high holds and the price reverses strongly from this level, it could signal a market correction or the start of price action in a range-bound environment. This potential reversal can be confirmed by a trend breakout that would signal further direction.
Note
🆕Fundamental Analysis:
🟢 Gold Price Movement: Gold (XAU/USD) is climbing back toward the top of its weekly range, above $2,765, thanks to falling US Treasury bond yields and concerns about potential economic fallout from President Trump’s tariff plans.
🟢 US Fed Impact: The Fed's decision to keep rates steady and their caution about cutting rates too soon supports gold, as the possibility of further rate cuts boosts the appeal of non-yielding assets like gold.
🟢 US Dollar and Bond Yields: The US Dollar remains capped due to lower US bond yields, providing further support for gold.
🟢 Trade War Concerns: Fears over trade wars and protectionist policies from Trump help drive demand for gold as a safe-haven asset.
🟡 ECB and Economic Data: The upcoming European Central Bank (ECB) meeting and the US GDP report are expected to influence market volatility and could impact gold prices.
Trade active
📶Technical Analysis
1H Chart:
🟢 Bullish Trend: Gold has been in a bullish trend since the end of December 2024, following a test of the all-time high.
🔴 Strong Correction: After hitting the all-time high, the price experienced a significant correction, moving back toward the trendline.
🟢 Recent Price Action: Yesterday, the price tested the trendline again and formed a higher low, signaling continued bullish momentum.
🟢 Fed Impact: After the Fed meeting, a bullish candle with a long lower shadow was formed, which is seen as a reversal signal, confirming further upside potential.
✅ Buy Position
- Open: 2760.0
- SL: 2739.0
- SL: 2%
- TP: 2781.0
- TP: 2.1%
Trade closed: target reached
Gold reaches new all-time high
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