Gold XAUUSD Possible Move 30.01.2025

Jan 30

The price is currently testing a well-defined descending trendline, which has acted as a strong resistance level. The analysis suggests two possible scenarios:

Bullish Breakout & Retest:

If the price successfully breaks above the trendline and confirms a retest as support, we could see bullish momentum leading to the 2,785.04 resistance level.
A clean breakout with strong volume would further validate the upside potential.
Bearish Rejection & Retest:

If the price fails to break above the trendline and gets rejected, we could see a retest of the trendline followed by a strong move downward.
The next major support level in this case would be 2,730.75, where price could find buying interest.
Traders should watch for confirmation on the breakout or rejection before taking a position. The reaction to the trendline will be the key factor in determining the next move.

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Jan 30

Trade closed: target reached

Gold playing out nicely, after breaking the trend line, and retesting the same, it has now reached to all time high as analyzed earlier. Close all the trades in profit for about 300+ pips in a day and enjoy the trade.

Jan 30

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