XAUUSD data (Gold/Dollar)
Date : 2025-08-07
Opening : 3371.54
Higher up: 3394.98
Below: 3368.36
Closing : 3379.56

Economic news :
Dollar falls further on the week as the post-NFP fallout continues
GBP/USD: Pound Under Pressure Ahead of Bank of England Meeting
Global FX Market Summary: Dovish Federal Reserve (Fed), Political Uncertainty and Tariffs Influence Market Volatility 6 August 2025

Detailed analysis:
Today, gold (XAUUSD) is in a slightly uptrend, closing at 3379.56 after hitting a daily high of 3394.98 and a low of 3368.36. The uptrend is being supported by a weaker US dollar, a direct consequence of the recent disappointing employment data (NFP) and the Federal Reserve's continued accommodative stance. Volatility is moderate, but political tensions and discussions over trade tariffs add potential risks of fluctuations.

Key levels to watch include immediate resistance around 3395, corresponding to the day's high, and support near 3368, which marks the session low. Traders should remain alert to geopolitical developments that could suddenly influence gold's appeal as a safe-haven asset.

### Potential Scenarios :

1. **Bullish scenario:**
- Condition:** If gold manages to break through and hold above resistance at 3395.
- Objective:** A move towards 3420, a major psychological resistance.
- Invalidation:** A return below 3370 would invalidate this scenario.
- Watch out for false breaks above 3395 without significant volume.

2. **Range scenario:**
- Condition:** Gold oscillates between 3368 and 3395.
- Support at 3368 and resistance at 3395.
- Strategy:** Favour buying close to support and selling close to resistance.
- Caution:** Avoid entering the middle of the range where movements can be erratic.

3. **Cashier scenario:**
- Condition:** If gold convincingly breaks support at 3368.
- Target: 3340, below which selling pressure could intensify.
- Invalidation:** A rebound above 3390 would halt the downward momentum.
- Risks:** Watch for rapid technical rebounds, especially if the dollar regains strength.

### Risk Management Advice :

- Avoid overtrading:** In a context of increased volatility, limit the number of trades to avoid stress-related errors.
- Wait for confirmation:** Do not rush to break key levels without confirmation from volume and market momentum.

In conclusion, caution remains the order of the day as gold navigates an uncertain environment, influenced by both dollar dynamics and geopolitical developments. Traders need to adopt a flexible approach, ready to adjust their strategy according to market signals.