GOLD MOVE ON NFP / ATH (FRIDAY/07-FEB-2025)

Analysis of the XAU/USD (Gold vs. USD) 1-Hour Chart
Key Observations:
Current Price Action:

The price is around $2,862.49, showing an upward movement.
The chart includes candlestick patterns, volume bars, and trendlines.
Support & Resistance Levels:

Resistance Levels:
$2,892.20 (First Key Resistance)
$2,902.77 (Strong Resistance)
Support Levels:
$2,836.64 - $2,834.21 (Key Support Zone)
Trend Analysis:

Bullish Projection (Purple Line):
The chart suggests a potential bullish move towards $2,892 and $2,902 after a small retracement.
A breakout above $2,892 could confirm the continuation of the uptrend.
Bearish Projection (Red Line):
If price gets rejected at higher resistance levels, a sharp drop towards $2,834 is expected.
The blue support zone (~$2,834) is a key area to watch for potential reversals.
Volume & Market Structure:

Increasing buying volume suggests bullish momentum.
A break of the "weak high" could lead to an aggressive push to $2,902.77.
If price fails to sustain above the red resistance zones, a breakdown may follow.
Possible Trading Scenarios:
Bullish Case:

Price retraces slightly and finds support before pushing towards $2,892 and $2,902.
A break above $2,902 could trigger further upside.
Bearish Case:

Failure to break resistance leads to a reversal towards $2,834.
If $2,834 breaks, a further drop may occur.
Conclusion:
Watch for a retracement before deciding on a trade.
$2,892 and $2,902 are key upside targets.
$2,834 is a critical support—a breakdown could mean further downside.

⭐️Personal comments PIPS & PROFIT:

The market is too expecting a price increase - big FOMO will have high risks. NF news will shock the market today.

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