XAUUSD BUY ANALYSIS TARGET IN ANALYSIS
Gold Spot (XAU/USD) Analysis: February 5, 2025
The chart highlights a continuation of the bullish trend, with a potential retracement before a further upward move.
Key Levels:
Current Price: 2,871.90 USD
Support Zone: The yellow area around 2,845 - 2,831 USD serves as the key demand
XAUUSD zone, where buyers are likely to step in.
Stop Loss: Positioned slightly below the 2,831 USD level, to protect against a deeper decline.
Target:
Primary Target: 2,900 - 2,903 USD
Extended Target: Above 2,920 USD, testing the upper boundary of the ascending channel.
Plan:
Entry Point: Wait for a retracement to the support zone (yellow area) for an ideal buy entry.
Stop Loss: Below 2,831 USD, to minimize risk if the support fails.
Take Profit: Aim for the 2,900 - 2,903 USD level initially, with the potential for a breakout toward 2,920 USD and beyond.
Technical Outlook:
The ascending channel remains intact, with bullish momentum continuing.
If price respects the support zone, expect a strong move upward toward the target levels
The chart highlights a continuation of the bullish trend, with a potential retracement before a further upward move.
Key Levels:
Current Price: 2,871.90 USD
Support Zone: The yellow area around 2,845 - 2,831 USD serves as the key demand
XAUUSD zone, where buyers are likely to step in.Stop Loss: Positioned slightly below the 2,831 USD level, to protect against a deeper decline.
Target:
Primary Target: 2,900 - 2,903 USD
Extended Target: Above 2,920 USD, testing the upper boundary of the ascending channel.
Plan:
Entry Point: Wait for a retracement to the support zone (yellow area) for an ideal buy entry.
Stop Loss: Below 2,831 USD, to minimize risk if the support fails.
Take Profit: Aim for the 2,900 - 2,903 USD level initially, with the potential for a breakout toward 2,920 USD and beyond.
Technical Outlook:
The ascending channel remains intact, with bullish momentum continuing.
If price respects the support zone, expect a strong move upward toward the target levels
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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.
Related publications
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.