GOLD - The market bought the dip. ATH retest. 5150?

Jan 27

XAUUSD , after an aggressive rally, faced a correction (profit-taking) near 5100. However, the market is quickly buying back the decline and is once again storming the ATH with the aim of continuing its growth.

Fundamental situation
- Trump continues to escalate relations with Canada (new tariffs) and maintains tensions with the EU...
- Russia-Ukraine negotiations in Abu Dhabi ended without result, which maintains geopolitical risks.
- The Fed meeting (decision on January 31) will be the main event of the week. Rates are expected to remain unchanged, but Powell's tone could cause volatility. However, the market expects two Fed rate cuts in 2026.
Technically, the market has the potential to continue its movement due to fundamental support.

Resistance levels: 5100, 5111, 5125, 5150
Support levels: 5075, 5055

In the current situation, it is logical to consider two scenarios:
- steady growth without pullbacks and a storming of resistance could lead to a breakout of 5100 and an upward momentum. Local target 5125-5150
- retest of the liquidity zone (long-squeeze) 5075 - 5055 before continuing growth

Best regards, R. Linda!

Jan 27

Trade active

Jan 28

Trade closed: target reached