XAU/USD Analysis: Strong Bullish Outlook and Key Trading Levels

As you know, my overall outlook on Gold (XAU/USD) is bullish, and I anticipate a new all-time high in the near future.
However, yesterday, I highlighted the potential for a short-term correction, identifying the 2725-2730 zone as possible support.

While the price did experience a pullback, it didn’t quite reach this level, but my pending sell order wasn’t activated either. As a result, I stayed out of the market.

Looking at price action since the start of the year, it’s evident that every dip has been aggressively bought.
This was especially clear yesterday, as after a significant rally and the test of a key resistance level, the price didn’t even manage to drop to the median line of the ascending channel.
The conclusion is simple: XAU/USD is strongly bullish.

Key Levels and Strategy:

In this context, the only viable strategy is to buy dips. The key levels of interest are:
• 2760 – a critical level to watch for potential entries.
• 2735 – yesterday’s low and another area of potential support.
The next target for a potential high could be set around 2840, based on the current market structure.

Final Thoughts

Given the strong bullish momentum, patience and precise entries will be essential for achieving good risk:reward. Look for pullbacks to the key levels mentioned above as opportunities to join the trend.
Happy trading, and let’s aim for that new all-time high!