Analysis with Chart

What are your thoughts on EURUSD?

EUR/USD has been consolidating within a tight range between the key support at 1.1550–1.1580 and resistance at 1.1740 – 1.1800 in recent weeks.
So far, the pair has failed to break out decisively, showing a lack of strong momentum.

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Gold prices have been rising, driven by ²:

1. Weaker US Dollar: A decline in the US Dollar's value makes gold more attractive to buyers holding other currencies.

1. Fed Rate Cut Expectations: Traders are pricing in nearly an 85% possibility of a quarter-point Fed rate cut next month, which could reduce the opportunity cost of holding gold.

1. Safe-Haven Demand: Geopolitical tensions and trade uncertainty have increased demand for safe-haven assets like gold.

Gold resumed its growth at the beginning of the week, reaching five-month highs around $3480 amid declining risk appetite and expectations of Fed policy easing. Trading activity remains low due to holidays in the US and Canada.
Key drivers: Weak Asian markets and uncertainty surrounding Trump's trade policy are supporting interest in gold. The probability of a rate cut in September is estimated at 90% after last week's PCE data.
Overall, the market maintains its momentum towards record levels ($3500), but low liquidity may increase volatility.
Technically, gold is strongly bullish. The price is striving to test the ATH - 3500. Before that, consolidation or a retest of the 3469-3460 zone may form. The dollar is weak at the moment and continues to trend downward, which generally supports gold.

Resistance levels: 3500., 3520
Support levels: 3469.5, 3460

Gold is going to touch resistance zone 3420 soon

Gold is ready to make new record
Gold Spot / U.S. Dollar

XAUUSD is holding above support and pushing higher, targeting the new high zone around 3530 if momentum sustains.