Market Update August 4th
XAUUSD/H1
➤ Following two liquidity sweeps around the 4020 area, gold has formed a Higher Low, suggesting that selling pressure is gradually weakening while buyers are beginning to regain short-term control.
- Price is now retesting the 4069–4075 Range High, a key resistance zone that will likely determine the market's next move.
🎯 Today's Scenario
➤ Current Market Structure:
- Range Low: 4045 – 4050
- Range High: 4069 – 4075
As long as price continues to hold above the 4045–4050 support zone, the short-term bullish structure remains intact, allowing the market to continue challenging the 4069–4075 Range High.
➤ A confirmed breakout above the Range High could trigger further bullish expansion toward the 4105 M30 Supply Zone, which is the next major upside target.
- Bullish Breakout: Above 4078
- Bullish Target Zone: 4105 (M30 Supply Zone)
📌 The preferred strategy is to wait for a confirmed breakout above the 4069–4075 resistance zone rather than chasing price below resistance. Once the breakout is confirmed, the probability of an extension toward 4105 increases significantly.
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1August 4, 2026 1.9K
