8.7 Golden Afternoon Outlook:
From the technical structure, the daily long-term uptrend remains intact, and the gold price is holding above all short-term moving averages. After an initial push higher, indicators have entered the overbought zone, so there is a need for consolidation and correction.
Key pivot support is 4200–4220. As long as the price holds this range, the bullish structure remains unchanged. Near-term resistance is 4280–4300.
【Important Reminder】Tonight at 20:30, the U.S. July Non-Farm Payrolls (NFP) report will be released. It is the week’s key turning point for market direction and will directly determine gold’s short-term trend.
Today’s plan: Prefer buying on pullbacks as the primary approach, with selling on rallies as a secondary option.
Trading suggestion:
If 4240–4220 holds and stabilizes, consider buying. Targets are 4300–4320, with a stop-loss at 4210.
If 4220 breaks down, you can follow with a sell order in sequence.
#XAU
From the technical structure, the daily long-term uptrend remains intact, and the gold price is holding above all short-term moving averages. After an initial push higher, indicators have entered the overbought zone, so there is a need for consolidation and correction.
Key pivot support is 4200–4220. As long as the price holds this range, the bullish structure remains unchanged. Near-term resistance is 4280–4300.
【Important Reminder】Tonight at 20:30, the U.S. July Non-Farm Payrolls (NFP) report will be released. It is the week’s key turning point for market direction and will directly determine gold’s short-term trend.
Today’s plan: Prefer buying on pullbacks as the primary approach, with selling on rallies as a secondary option.
Trading suggestion:
If 4240–4220 holds and stabilizes, consider buying. Targets are 4300–4320, with a stop-loss at 4210.
If 4220 breaks down, you can follow with a sell order in sequence.
#XAU