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Analysis and Education>Technical Analysis: XAUUSD

Technical Analysis: XAUUSD

28.01.2025

XAUUSD fell more than 1%

On Monday, XAUUSD fell more than $30 from its intraday-high. It ended down 1.02% at $2,662.51 per ounce.

Investors sold gold positions to cash in

On Monday, the broader U.S. market decline caused by the shocking attack of Chinese artificial intelligence startup DeepSeek prompted investors to sell gold positions to cash in.

Gold ETF holdings decreased

As of January 27 (Monday), the world's largest gold exchange-traded fund (ETF) SPDR Gold Trust held 857.02 tons of gold, down 3.15 tons from the previous trading day.

Technically speaking, there is a need for a correction in the short term

the Chart of the Day 

On the chart of the day, XAUUSD fell from highs, and there is a need for a correction in the short term. In terms of technical indicators, KDJ fell after the death cross, showing XAUUSD will fall further. Investors should focus on whether XAUUSD will break through the support at 2725. It will fall further with potential support at 2690 if it breaks below 2725.

4-hour chart

On the 4-hour chart, XAUUSD fluctuated and fell. The bearish market trend prevailed. In terms of technical indicators, MACD fell after the death cross, showing that the market trend is bearish. Investors should focus on whether XAUUSD will break through the resistance at 2750. It will fall further if it rebounds but is capped at 2750.

Key resistance: 2750,2772

Key support: 2726,2690

Generally speaking, XAUUSD is more likely to correct in the short term. Investors should focus on US economic data during the day.

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