#ETH4500Next? Will gold exceed its trading range on August 7?📌 Fundamental Logic: Sharp fluctuations, so caution is needed regarding the risks of a pullback. News supporting gold prices: Expectations for a rate cut from the Federal Reserve: weak U.S. economic data (employment, services) bolster expectations for a rate cut, putting pressure on the U.S. dollar (around 98.7), which benefits gold. Demand for safe haven: Uncertainty surrounding Trump's policies (tariffs, staff changes) has increased market aversion to risk, making gold sought after as a safe haven. Key technical signals: Resistance: 3390-3400 (highest level in almost two weeks, bullish risk area; a breakout targets 3420-3450). Support: 3370 (the dividing line between short-term upward and downward), 3360-3350 (major support for pullbacks). Short-term trend: Four-hour chart: price is under pressure after approaching the acceleration line, indicating a higher risk of chasing higher prices. 30-minute chart: double-top resistance at 3390. If it fails to break through, it may retest 3370. A breakout below 3370 indicates weakness, targeting 3350. 🎯
