📅 Gold Weekly Outlook (July 29 – Aug 2, 2025)
Current Price: ~$3,336
Last Week: Rejected near $3,400+, bearish weekly close expected.
🔍 Key Levels
Resistance: $3,365 → $3,380 → $3,400
Support: $3,330 → $3,310 → $3,275
⚠️ Why It Moved
Strong dollar & fading rate cut hopes pressured gold.
Risk sentiment improved → gold demand dropped.
📉 Outlook
Bearish bias if price stays below $3,365.
Watch for bounce near $3,310, but no reversal yet.
Break below $3,310 opens downside to $3,275.
✅ Trade Setup #1 – Sell the Pullback
Type: Short
Entry: $3,360–$3,370 (if price retests broken support)
Stop Loss: Above $3,380
Take Profit:
TP1: $3,330
TP2: $3,310
TP3: $3,275
Condition: Only take this if price fails to break $3,370 and shows bearish rejection (e.g., wick or bearish candle)
✅ Trade Setup #2 – Buy on Support Bounce
Type: Long (counter-trend, risky)
Entry: $3,310–$3,320 zone
Stop Loss: Below $3,295
Take Profit:
TP1: $3,340
TP2: $3,365
Condition: Only if bullish reversal pattern forms (e.g., hammer, bullish engulfing)
🗓️ Events to Watch
Wed: FOMC rate decision
Fri: US Non-Farm Payrolls
Current Price: ~$3,336
Last Week: Rejected near $3,400+, bearish weekly close expected.
🔍 Key Levels
Resistance: $3,365 → $3,380 → $3,400
Support: $3,330 → $3,310 → $3,275
⚠️ Why It Moved
Strong dollar & fading rate cut hopes pressured gold.
Risk sentiment improved → gold demand dropped.
📉 Outlook
Bearish bias if price stays below $3,365.
Watch for bounce near $3,310, but no reversal yet.
Break below $3,310 opens downside to $3,275.
✅ Trade Setup #1 – Sell the Pullback
Type: Short
Entry: $3,360–$3,370 (if price retests broken support)
Stop Loss: Above $3,380
Take Profit:
TP1: $3,330
TP2: $3,310
TP3: $3,275
Condition: Only take this if price fails to break $3,370 and shows bearish rejection (e.g., wick or bearish candle)
✅ Trade Setup #2 – Buy on Support Bounce
Type: Long (counter-trend, risky)
Entry: $3,310–$3,320 zone
Stop Loss: Below $3,295
Take Profit:
TP1: $3,340
TP2: $3,365
Condition: Only if bullish reversal pattern forms (e.g., hammer, bullish engulfing)
🗓️ Events to Watch
Wed: FOMC rate decision
Fri: US Non-Farm Payrolls
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.