Gold (XAUUSD) Sustains Upside Traction Within A Firmly Established Growth Phase

Market Analysis – January 29

Gold (XAUUSD) sustains upside traction within a firmly established growth phase. XAUUSD remains positioned within a well-defined upward trajectory, with price action consistently holding above rising short- and mid-term moving averages. Momentum conditions continue to favor the upside, as positive MACD readings and expanding histogram bars reflect strengthening buying pressure. Overall market behavior indicates that demand remains firmly in control, with downside reactions proving brief and largely corrective rather than trend-threatening.

Gold Key Levels

Resistance Levels: $5300, $5460, $5690
Support Levels: $5000, $4760, $4570

Gold Long-Term Trend: Bullish

From a technical perspective, the asset has cleared previous resistance zones near $5,300 and $5,460, signaling readiness to engage higher price levels. The former $5,000 ceiling has now transitioned into a dependable support area, providing a solid base for continued upside progression. Additional support around $4,760 and $4,570 continues to hold effectively, reinforcing the strength of the prevailing upward structure.

Looking ahead, XAUUSD appears positioned to test the $5,680 region initially, with scope for extension toward $5,800 should buying momentum remain intact. Any near-term retracements are likely to encounter demand near $5,000 or $4,760, potentially offering renewed accumulation opportunities. The broader technical picture remains constructive, favoring further appreciation as long as the bullish framework holds.

Gold Short-Term Trend: Bullish

On the four-hour chart, XAUUSD maintains a strong bullish structure defined by successive higher highs and higher lows. Price continues to hold firmly above the 9 and 21-period moving averages, confirming sustained upside momentum following the recent impulsive advance. The former consolidation area around $5,300 has transitioned into support, reinforcing continuation conditions, while expanding momentum aligns with forex signals that favor further upside as pullbacks remain corrective in nature.

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