Technical Analysis of XAU/USD (Gold/USD) Price Movement (February 4-8, 2025)

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Monday, February 4, 2025

The week started with XAU/USD trading at $2,844.12, showing a slight increase of 1.05%. The price action was characterized by a bullish trend, supported by the Relative Strength Index (RSI) indicating overbought conditions. Key support levels were identified at $2,834 and $2,815.

Tuesday, February 5, 2025

Gold prices continued their upward trajectory, reaching $2,852.81. The MACD indicator confirmed the bullish momentum, while the moving averages (MA5, MA10, MA20) remained supportive. The Williams Percent Range and CCI indicators suggested strong buying signals.

Wednesday, February 6, 2025

Mid-week saw a slight correction with prices dipping to $2,840. However, the overall trend remained positive, with the ADX indicating high volatility and strong trends. The pivot points suggested potential resistance at $2,860.

Thursday, February 7, 2025

Prices rebounded to $2,867.25, driven by positive economic data and ongoing geopolitical tensions. The Ultimate Oscillator and ROC indicators continued to show strong buying signals. The Fibonacci retracement levels indicated potential support at $2,855.

Friday, February 8, 2025

The week concluded with XAU/USD trading at $2,867.25, maintaining its bullish stance. The STOCH and STOCHRSI indicators remained overbought, suggesting caution for bullish traders. Key support levels were identified at $2,834 and $2,815.

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