Gold Spot / U.S. Dollar
Long

XAUUSD Continues on Its Path to Conquer Record-High Levels

500
👋Hello everyone, what are your thoughts on the trend of XAUUSD ?

Today, I'll provide a long-term perspective. XAUUSD has recently surged, driven by global instability, particularly the Fed's rate cuts. The risk of a U.S. government shutdown has also led investors to turn to gold as a safe haven, contributing to the significant price increase.

From a technical standpoint, gold is showing a strong bullish structure over the long term, with a clear breakout above key resistance levels. After consolidating around the Fibonacci 0.5 retracement support zone, the price has rebounded and is now heading towards the Fibonacci extension zone. This area is considered the first major take-profit target, also coinciding with the psychological level at $4,000 (a common target for 2025).

With both market structure and fundamental analysis supporting the bullish outlook, I remain optimistic about both the short and long-term prospects for XAUUSD. What do you think about the XAUUSD trend? Feel free to leave your thoughts in the comments!

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