Triangle pattern on the chart: Gold (XAUUSD) poised for a sharp breakout

XAUUSD prices are consolidating, with sellers holding the 3,135 USD resistance level. Discover more in our analysis for 2 April 2025.

XAUUSD forecast: key trading points

• Strong demand from central banks supports XAUUSD prices
• Expectations of Federal Reserve policy easing fuel interest in Gold
• Triangle pattern formation indicates price consolidation with a potential breakout to the upside
• XAUUSD forecast for 2 April 2025: 3,180

Fundamental analysis

XAUUSD quotes are undergoing a correction on Wednesday after hitting a new record high in the previous session. Investors continue to actively buy Gold, anticipating consequences for the US due to retaliatory tariffs.

Analysts highlight persistent geopolitical tensions as a key driver behind Gold’s price growth, with no signs of easing. XAUUSD prices are also supported by strong demand from central banks, expectations of Federal Reserve policy easing, and rising investment flows into gold-backed exchange-traded funds.

Market participants now shift their focus to Friday’s US Nonfarm Payrolls report.

XAUUSD technical analysis

XAUUSD prices are correcting after bouncing off the upper boundary of the ascending channel. The pair is currently consolidating within a Triangle pattern, signalling a potential breakout from the range in the near term. The XAUUSD forecast for today, 2 April 2025, expects prices to break above the 3,135 USD resistance level and move towards 3,180 USD. Technical indicators support the bullish scenario, with the quotes remaining above the Moving Averages and the Stochastic Oscillator rebounding from the support line, indicating upward momentum.

Summary

XAUUSD prices continue to see strong demand amid geopolitical tensions and expectations of Fed policy easing. The key driver for further movement will be Friday’s US employment report. Today’s XAUUSD analysis points to a high probability of a breakout above 3,135 USD, which could trigger a rise toward 3,180 USD as part of the Triangle pattern implementation.