XAUUSD Strategy: Is Gold Poised for More Gains?

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Hello everyone, let’s continue planning our strategy with XAUUSD today!

Currently, gold is showing a slight recovery on the short-term analysis chart, trading around the resistance level of $2,634 USD, with a few key highlights to note:

Trend Analysis: The price is moving above the EMA 34 and EMA 89, with the EMAs reversing direction, signaling a bullish recovery and short-term upward correction.

After breaking out of the descending price channel, gold has immediately tested the $2,630 USD resistance. If this level is breached, the next target is $2,650 USD. Alternatively, $2,620 USD appears to be a promising buy zone for traders following price action strategies.

So far, gold has gained nearly 100 PIPs, reflecting the return of bullish momentum. Therefore, the current short-term outlook favors buying opportunities.

What about you? What’s your take on today’s trend and gold’s outlook for 2025? Should we continue buying gold? Share your thoughts in the comments!
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