📌 Core Logic: High-level fluctuations, be wary of a pullback risk
News support for gold prices
Expectations of a Fed rate cut: Weak US economic data (employment, services) reinforce expectations of a rate cut, putting pressure on the US dollar (around 98.7), benefiting gold.
Safe-haven demand: Trump’s policy uncertainty (tariffs, personnel changes) has increased market risk aversion, and gold has been sought after as a safe-haven asset.
Key Technical Signals
Resistance: 3390-3400 (nearly two-week high, bullish risk zone; a breakout targets 3420-3450).
Support: 3370 (short-term bull-bear boundary), 3360-3350 (key support for pullbacks).
Short-term Trend:
4-Hour Chart: Price is under pressure after approaching the acceleration line, indicating a high risk of chasing higher prices.
30-minute chart: Double top resistance at 3390. If it fails to break through, it may retest 3370. A break below 3370 signals weakness, with a target of 3350.
🎯 Today's Trading Strategy
1. Short Opportunity (Priority)
Entry Point: 3385-3395 (Test short position with a small position)
Stop Loss: 3402 (Short position expires if it breaks through 3400)
Target: 3370 → 3360 (If it breaks below 3360, hold to 3350)
2. Long Opportunity (Buy low after a pullback)
Entry Point: Go long if it stabilizes at 3360-3350
Stop Loss: 3345 (Prevent false breakouts)
Target: 3380-3390 (Hold if it breaks through 3400)
⚠️ Key Market Signals
If the Asian and European sessions continue to fluctuate above 3380, the US session may see another push towards 3400, but avoid chasing long positions. Wait for shorting opportunities at higher levels. If it quickly breaks below 3370, then turn short-term bearish and follow through to 3360-3350.
If it stabilizes at 3400 → Set stop loss for short position and switch to long position if it stabilizes on a pullback, with target at 3420-3450.
Trade active
Latest Gold Trend Analysis and Trading Strategies for August 7, 2025:
📰 Gold News Analysis:
Reason for the Recent Price Pullback:
Prior to hitting a two-week high of $3,390.
The pullback was mainly due to profit-taking, especially in the absence of new major economic data stimulus.
Fundamental Factors:
Last Friday's weak US jobs data fueled risk aversion, leading to three consecutive days of gold price gains.
Market expectations for a September Fed rate cut have intensified, providing medium-term support for gold prices.
Geopolitical risks have resurfaced: The Trump administration's imposition of new tariffs on India and Switzerland has heightened market concerns.
The market is closely monitoring Fed personnel changes and speeches.
📈 Gold Technical Analysis:
1. Daily Chart Structure:
A small bearish candle with a long lower shadow indicates strong support below, but also significant selling pressure above.
The daily chart shows strong volatility, but momentum is slowing, so be wary of a market reversal.
2. Key Technical Levels:
Resistance Levels:
Initial Resistance: 3385 (Short-Term High)
Key Resistance: 3400 (Psychological Level), 3405-3410 (Strong Resistance Zone)
Support Levels:
Initial Support: 3360 (Above Yesterday's Low)
Secondary Support: 3350-3345 (If Below 3360, a Rapid Lowering Possibly Occurs)
Strong Support: 3335 (Major Defensive Level)
3. Hourly Chart Analysis:
The moving averages are flattening, indicating a volatile trend.
If the price rebounds but fails to break through 3385/3400 and falls back, it could indicate a top formation.
If it breaks down below 3358, there will be a risk of opening up room for a correction.
✅ Trading Recommendations (Short-Term Strategy):
📌 Main Strategy: Bearish with a volatile market
Primarily short sell at high levels, supplemented by long buys at low levels
📉 Short Strategy:
Short with a small position in the 3390-3400/3410 range;
Stop Loss: Above 3415
Targets: 3365, 3355, with strong support at 3335 as a target
📈 Long Strategy:
If gold prices rebound and stabilize at the 3360/3350 support levels, go long with a small position;
Stop Loss: Below 3344
Targets: 3380/3390
📛 Risk Management Reminder:
It is recommended to control your position size, maintain strict stop-loss orders, and avoid chasing gains and losses.
Trade closed: target reached
Will gold successfully break through 3400 on August 8th?
I. Daily Analysis
Overall Trend: Gold remains at the end of a converging triangle, with upper resistance at 3406 and lower support at 3360, awaiting guidance on the direction of a breakout.
Key Moving Average: The 5-day moving average at 3372 remains a short-term bullish-bearish watershed. If it holds above this level, the market will likely remain volatile and bullish. If it breaks, a pullback to 3360 or even lower is possible.
K-line Pattern: Wednesday's daily close was a small bearish candlestick, but the upward trend was not broken. Thursday's Asian session saw a high of 3398 before retreating, indicating psychological pressure at the 3400 level.
II. 4-Hour and Short-Term Analysis
Support and Resistance:
Key Support: 3370-3373 (61.8% retracement level), 3365 (morning low, bullish defensive level).
Key Resistance: 3398-3400 (psychological barrier), 3406 (upper limit of the triangle). Technical Indicators:
MACD is still in a correction phase, requiring short-term volatility to digest momentum.
The 4-hour middle line at 3371-72 resonates with the daily 5-day moving average. If the price stabilizes at this level during the European session, there is still potential for an upside move in the US session.
III. Today's Trading Strategy
1. Long Strategy (Primarily Buy on Dips)
Entry Point: If the price stabilizes after a pullback to 3370-3373, try a small buy position with a stop-loss below 3365.
Target: 3395-3400. A breakout could target 3406 or even higher.
2. Short Strategy (Approach with caution)
If the price falls below 3365, it could weaken. Short-term short positions could be targeted at 3360-3350.
If the suppression at 3406 is effective, you can try shorting, with a stop loss above 3410 and a target at 3390-3380.
3. Breakout Strategy
If the price breaks above 3406, follow the trend and buy long positions, targeting 3420-3430. Breaking below 3360: It may open up downward space, with the target at 3340-3330.
IV. Key Timeframes
European Market Trend: If 3370 holds, a second surge higher is possible in the US market; if pressure persists at 3398, a pullback to 3370-3365 is possible.
Focus on the US market: US economic data and the trend of the US dollar. If the US dollar continues to be weak, gold may be supported.
V. Risk Warning
Currently at the end of the triangle, be wary of false breakouts. It is recommended to operate with a light position and maintain strict stop-loss orders.
If 3365 falls, adjust your strategy to avoid blindly bottom-fishing.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
❤️Free gold trading signals:t.me/+OJSbWQ6F4KM2Mzk1
💥Gold trading analyst | Technology + logic dual drive
💯Intraday/band strategy analysis | Risk control first, win in stability
💥Gold trading analyst | Technology + logic dual drive
💯Intraday/band strategy analysis | Risk control first, win in stability
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.