Hello Everyone Here is My Today’s #XAUUSD (GOLD) Market Analysis
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Today on Monday 03 February 2025
#Gold Current Price is $2786 with Key ( Pivot Point: $2795 )
Bearish Scenario: #Gold is currently trading below the Pivot point ($2795) which suggests a bearish outlook.
First Support Targets: 2780 / 2770
If Gold continues below the pivot point it could further test the demand Zone at ( $2760 $2750, and $2740 )
Key Action : If the H4 candle closes below the pivot point ( $2795 ) consider a sell position targeting the support levels mentioned.
A break below $2760 would indicate further downside potential pushing Gold into the lower support levels.
Bullish Scenario: #Gold can maintain a bullish trend as long as it remains above the pivot point ( $2795 )
First Resistance Targets: $2808 / $2817
If #Gold successfully breaks above $2800 we may see a continuation towards higher resistance levels.
Key Action: If the H4 candle closes above the pivot point ( $2795 ) and the price crosses $2800 this could signal a potential #Buy position with targets at $2831 $2842
A sustained close above $2800 would confirm the bullish momentum and open up further upside opportunities.
Key Levels:
Pivot Point: $2795
Support Targets $2780 / $2770
Target1) $2760
Target2) $2750
Target3) $2740
Target4) $2730
Demand Zone : 2726/2612
Resistance Targets: $2808 / $2817
New ATH : $2831 / $2841
Trend Outlook:
Bullish above : $2795 / $2800
Bearish below : $2795 / $2780
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