XAUUSD data (Gold/Dollar)
Date : 2025-07-19
Opening : 3347.6
Higher up: 3352.6
Below: 3341.9
Closing : 3348

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ForexLive European FX news wrap: Dollar gets a case of the Waller hangover

Detailed analysis:
On 19 July 2025, gold (XAUUSD) is trending slightly higher, closing at 3348 after reaching an intraday high of 3352.6. Key levels to watch include immediate support at 3340 and resistance at 3355. Recent volatility remains moderate, reflected by a narrow price range. Traders need to remain vigilant in the face of the US dollar's momentum, influenced by the Fed's recent comments from Christopher Waller, which have left traces of uncertainty in the markets. In addition, the easing of expectations of a rate cut by the Bank of England could have an indirect impact on gold via movements in the dollar.

**Bullish scenario:** If gold manages to break through and hold above resistance at 3355, this could open the way to 3365. This scenario would be invalidated if the price were to fall back below 3340, which would indicate weakness in bullish momentum. Traders should avoid rushing to buy until the 3355 level is clearly breached with significant volume.

**In a consolidation scenario, gold could move between 3340 and 3355. Traders can cautiously consider selling near resistance and buying towards support. A break of either of these bounds would indicate a potential exit from the range.

**Bearish scenario:** A move below support at 3340 could lead to a fall towards 3330. This scenario would be invalidated if the price rises above 3355. Traders should be wary of false break signals, especially when volume is low.

**Risk management advice:**
1. Favour strict stop-loss management to minimise potential losses, especially in a market where signals can be ambiguous.
2. Avoid overtrading by waiting for clear trend confirmation before taking a position. This reduces the risk of impulsive decisions.

In short, although gold is showing a slight upward bias, caution is still called for given the current economic and geopolitical uncertainties.