Gold (XAU/USD) Technical Analysis – February 19, 2025
By Brokerir
Market Overview
Gold (XAU/USD) is currently trading at $2,944.08, showing signs of exhaustion after a strong bullish move. The price has approached key resistance zones at $2,947 and $2,955, where selling pressure is expected to increase. A retracement is likely, with a key downside target at $2,939, which acts as a strong support level.
Key Technical Levels
Current Price: $2,944.08
Resistance Levels: $2,947 / $2,955
Support Zone: $2,939
Potential Downside Target: $2,939
Technical Indicators & Market Structure
1. Price Action & Trend Analysis
Gold has experienced a sharp bullish rally, but now the price is reacting to the resistance zone at $2,947. If selling pressure increases, we could see a pullback towards the first key support at $2,939. If the decline continues, further downside movement could be seen.
2. MACD (Moving Average Convergence Divergence)
The MACD histogram is currently showing weakening bullish momentum.
The MACD line is flattening out, indicating a potential loss of bullish strength.
If the MACD turns bearish, it would confirm the expected retracement scenario.
3. Resistance & Price Reaction
$2,947: The first resistance level, where the price has already shown rejection signs.
$2,955: A stronger resistance level, where sellers could enter aggressively if gold retests this zone.
4. Market Sentiment & Fundamental Factors
The recent gold rally may have been fueled by short-term news or economic data releases.
If risk sentiment improves or the U.S. dollar strengthens, gold could face more selling pressure.
Upcoming economic events might trigger volatility, making it important to watch key levels closely.
Conclusion & Trade Outlook
Gold is currently testing key resistance zones at $2,947 and $2,955, where selling pressure could drive prices lower toward $2,939. If the price fails to hold at the first support, further bearish continuation could follow.
📌 Key Observations:
A rejection from $2,947 increases the probability of a pullback.
If the price breaks above $2,955, the bearish scenario weakens.
A break below $2,939 could trigger a deeper correction.
This analysis by Brokerir provides a professional outlook on gold’s price movement. Traders should watch for price action confirmation at key levels to determine the next move. Stay cautious of volatility and risk management strategies.
By Brokerir
Market Overview
Gold (XAU/USD) is currently trading at $2,944.08, showing signs of exhaustion after a strong bullish move. The price has approached key resistance zones at $2,947 and $2,955, where selling pressure is expected to increase. A retracement is likely, with a key downside target at $2,939, which acts as a strong support level.
Key Technical Levels
Current Price: $2,944.08
Resistance Levels: $2,947 / $2,955
Support Zone: $2,939
Potential Downside Target: $2,939
Technical Indicators & Market Structure
1. Price Action & Trend Analysis
Gold has experienced a sharp bullish rally, but now the price is reacting to the resistance zone at $2,947. If selling pressure increases, we could see a pullback towards the first key support at $2,939. If the decline continues, further downside movement could be seen.
2. MACD (Moving Average Convergence Divergence)
The MACD histogram is currently showing weakening bullish momentum.
The MACD line is flattening out, indicating a potential loss of bullish strength.
If the MACD turns bearish, it would confirm the expected retracement scenario.
3. Resistance & Price Reaction
$2,947: The first resistance level, where the price has already shown rejection signs.
$2,955: A stronger resistance level, where sellers could enter aggressively if gold retests this zone.
4. Market Sentiment & Fundamental Factors
The recent gold rally may have been fueled by short-term news or economic data releases.
If risk sentiment improves or the U.S. dollar strengthens, gold could face more selling pressure.
Upcoming economic events might trigger volatility, making it important to watch key levels closely.
Conclusion & Trade Outlook
Gold is currently testing key resistance zones at $2,947 and $2,955, where selling pressure could drive prices lower toward $2,939. If the price fails to hold at the first support, further bearish continuation could follow.
📌 Key Observations:
A rejection from $2,947 increases the probability of a pullback.
If the price breaks above $2,955, the bearish scenario weakens.
A break below $2,939 could trigger a deeper correction.
This analysis by Brokerir provides a professional outlook on gold’s price movement. Traders should watch for price action confirmation at key levels to determine the next move. Stay cautious of volatility and risk management strategies.
Trade closed: target reached
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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.
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.