Expecting a new ATH for XAU/USD next week

✍️ NOVA hello everyone, Let's comment on gold price next week from 01/27/2025 - 01/31/2025

🔥 World situation:

Gold prices continued to rise this week, nearing the all-time high of $2,790, with a breakthrough seeming increasingly likely. Comments from US President Donald Trump could serve as a potential catalyst for further gains, especially as he hinted at holding off on imposing tariffs on Chinese goods. Currently, XAU/USD stands at $2,772, up 0.60%.

Market sentiment turned slightly cautious despite Trump's softened stance on trade policies with both allies and rivals. On the economic front, Friday's US data showed an improvement in December's manufacturing activity, according to S&P Global, while the University of Michigan's final January survey revealed a decline in consumer sentiment.

🔥 Identify:
Positive market - the chance of gold price reaching new ATH is very high. The moves on the chance of interest rate cut still exist after President TRUMP supported lower interest rates than the current


🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $2790, $2800, $2820
Support : $2754, $2719


🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest