XAUUSD data (Gold/Dollar)
Date : 2025-07-18
Opening : 3303.71
Higher up: 3360.77
Below: 3303.71
Closing : 3356.6
Economic news :
GBP/USD Edges Lower as UK Employment, Wage Growth Falls, US Retail Sales Shine
FX option expiries for 18 July 10am New York cut
Wipro Announces Results for the Quarter Ended June 30, 2025
Detailed analysis:
The gold market (XAUUSD) is currently in an uptrend, marked by a significant advance from the opening level of 3303.71 to a close of 3356.6, close to the intraday high of 3360.77. The main technical levels to watch include immediate resistance at 3360, with key support around 3300. Recent volatility has been moderate, but the increase in US retail sales could signal more robust economic momentum, potentially strengthening the US dollar and putting pressure on gold.
On the macroeconomic front, the strengthening dollar in response to strong US retail sales data could limit gold's advance. In addition, the downturn in UK employment and wage growth could indirectly influence the gold market by boosting demand for safe havens. On the geopolitical front, no major tensions currently seem to be having a significant impact on the markets.
**Potential short-term scenarios:**
1. **Bullish scenario:** If gold manages to establish itself above resistance at 3360, the next target could be around 3400. This scenario would be invalidated if the price falls back below 3330. Traders should watch for a confirmed break above 3360 with significant volume before committing themselves.
2. **Range scenario:** Gold could move in a range between 3300 and 3360. The limits of this range are essential to monitor. A prudent approach would be to wait for a clear test of these levels before taking positions.
3. **Bearish Scenario:** A break below the 3300 support could open the way for a decline towards 3250. This scenario would be invalidated if the price rises above 3360 on a sustained basis. Traders should avoid selling aggressively until there is clear confirmation of a break below 3300.
**Risk management advice:**
- Adopt disciplined capital management:** Risk no more than 1-2% of your capital on a single position to avoid major losses.
- Avoid overtrading:** Wait for clear confirmation of key levels before acting. Patience can often prove more fruitful than impulsiveness in uncertain markets.
To sum up, although gold is showing signs of strength, caution is still called for as we await clear confirmation of technical levels.
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