XAU/USD ~ Gold Building Momentum from Key Support

Feb 7

📝 Description 🔍 Setup XAUUSD
✅Gold has been respecting a descending trendline with multiple rejections, showing clear bearish structure. Now price is attempting a breakout + retest while holding above a strong demand zone.

✅Buyers stepped in aggressively from support, forming higher lows and pushing price back toward the cloud resistance area.

✅Geopolitical tensions (Middle East concerns) continue to support safe-haven demand for gold — adding a fundamental tailwind.

📍 Support & Resistance
🟥 Support Zone: 4,760 – 4,650
🟥 Major Support: 4,570 – 4,400
🟩 1st Resistance: 5,310
🟩 2nd Resistance: 5,550

Volume profile shows strong acceptance near support — buyers defending the zone.

⚠️ Disclaimer
This analysis is for educational purposes only.
Trading involves risk. Always use proper risk management and your own strategy.

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Feb 8

Trade active

Fundamental Updates : 🫣
Iran - US - Nuclear Discussion, worries that not reaching an agreement could push the Middle East closer to conflict.

Feb 9

Note

This week, markets are focused on upcoming U.S. jobs and inflation data, which will shape interest rate expectations and any signs of labour market weakness tend to support non-yielding assets like gold.

Feb 10

Note

💵 Dollar Impact :

✅The US dollar fell ~0.8% to a 1-week low
✅Weaker dollar makes gold cheaper for foreign buyers
✅Dollar weakness = main driver of gold’s move

📊 Key Data in Focus: Markets watching this week:

✅US Nonfarm Payrolls (NFP)
✅CPI inflation data
✅Jobless claims