Table of Contents
After a weak NFP data, Gold gave a strong purchase step last week, weakening the dollar and string the XXUSD pairs. Xauusd shut down over $ 3360 on Friday, showing that it may be rapid continuity even after some retractions in the ongoing week.
Gold for this week is biased with potential goals of $ 3440 and even a new Ath above $ 3500. Keeping this in mind, let us discuss major pivot levels for the purchase and sale of gold in this weekly forecast.
Major economic events of this week
Some important US economic reports have been set for this week which is expected to affect Xauusd.
August 5 – ISM Services PMI (Actual: 51.5 vs. vs. forecast: 50.8):
The increase in the service sector which is stronger than the anticipated points for economic flexibility, which strengthens the USD and puts a short -term presser on gold.
7 August – Unemployment claims (real: 221k vs. forecast: 218k):
A slight soft climb of the job market indicates some high climbing, which can promote gold by increasing fed fed forecasts.
Read more: Xauusd Weekly Forecast: Next target for $ 3600 gold?
Gold htf observation
As is discussed in the previous xauusd weekly forecast, the monthly time limit is showing a mothers towards external liquidity, and that is happening right.
We can expect the objective to continue towards $ 3440, and eventually a test at the previous $ 3500.
Gold forecast from August 4 to August 8, 2025
The 4-hour chart in gold has a clear channel of character towards the purchase side. The strongest area for Buys is the breaker block, which begins from 3334 to 3325.
To sell, there is a slowdown in the 1HR chart; However, it should be noted that the trend has been transferred to purchase, and you can only look for scalp self from an area of $ 3365–3373.
XAUUSD 1H Chart – Source: Tradingview
Read more: Goldman scraps the recession forecast as Sachs Trump
Business strategies and investment recommendations
To conclude, gold can buy and sell both this week; However, the purchase is firmly preferred on selling. Suggesting selling short time fry, while high -time frames are still in favor of a purchase position in gold.
Resistance level
- $ 3365-3373-1HR recession order block
Support level
- $ 3334-3325-4HR breaker blocks and FIB 0.5 levels
Disclosure: This article is not DOS representative investment advice. Materials and materials are painted on this page, only for education.
