XAU/USD - Gold Weekly Analysis(24th Feb 2025 to 28th Feb 2025)

XAU/USD - Gold Weekly Analysis(24th February 2025 to 28th February 2025)

Weekly recap:

To recap last week, our main focus on Gold during the second half of the week with United States Initial Jobless Claims. Gold to start off this week has found support around 2895.00 KL before continuing higher into the second half of the week at new ATHs at 2945.00 price point and remained in a range between 2945.00 and 2929.00 KL.

Reminder on Gold:

Gold is still HTF bullish, but we must keep in mind that gold is at a critical price point and currently in a price range. Stay alert on news headlines (especially from Trump) but it wouldn’t be out of the ordinary to see profit taking moves from new ATHs to better demanded prices. Since the start of 2025 Gold has gave us picture perfect bullish sequences, so remain adaptive to possible profit taking moves from ATHs

Trade ideas for upcoming week:

Due to Gold being stuck in a intraday range I will remain bullish on Gold and be more selective and patients until we break lower or higher.

Bullish bias:

1 - FTB below 2929.00KL

Bearish bias:

1 - FTB above ATHs at 2955.385KL

2 - Clean break and holds below range at 2920.00KL along with DXY strength

Economic calendar outlook:

In terms of economic events this week our main focus will be more towards the second half of the week with United States Durable Goods and GDP Growth Rate on Thursday and to close off the week we have United States Core PCE data along side with Personal Spending and Income data.

1 - Thursday : Durable Goods and GDP Growth Rate

2 - Friday : Core PCE and Personal Spending / Income Data

Daily Reminder:

-Caution-

Stay Smart, Trade safe, follow your trading plan, follow your risk management plan, focus on long term vision, keep emotions out and avoid crashing your account.