Gold Trading Strategy XAUUSD August 6, 2025GoldOANDA:XAUUSDandgayGold Trading Strategy XAUUSD August 6, 2025: Spot gold edged lower in Asian trading yesterday (August 5), currently trading around $3,380/ounce. On Tuesday, the US ISM Services PMI came in at 50.1, below the forecast of 1.4 and below the previous month's reading of 0.7; the news sent gold prices soaring in the US session. Fundamentals: Gold prices surged after weak jobs data increased the likelihood of a rate cut by the Federal Reserve. Data released last Friday showed that the number of new jobs in the US non-farm sector was much lower than expected, indicating a sharp deterioration in the labor market. The probability of the Fed cutting interest rates in September increased to 87%, up from 63% last week. Technical analysis: Gold price is still in the uptrend channel in the H1 frame, the 3365 - 3370 area is supporting the gold price to continue following the price channel. If the gold price continues to fluctuate according to the price channel, the next prospective area could be 3400 - 3405 or even 3420 - 3425. However, the RSI and MA lines have shown signs that the buyers are weakening, so the gold price is very likely to have a strong correction from today until the end of the week. Important price zones today: 3365 - 3370, 3400 - 3405 and 3420 - 3425. Today's trading trend: SELL. Recommended order: Plan 1: SELL XAUUSD zone 3403 - 3405 SL 3408 TP 3400 - 3390 - 3380 - 3350 - OPEN. Plan 2: SELL XAUUSD zone 3423 - 3425 SL 3428 TP 3420 - 3420 - 3400 - 3380 - OPEN. Plan 3: BUY XAUUSD zone 3365 - 3367 SL 3362 TP 3370 - 3380 - 3390 - 3400. Wish you a safe, successful and profitable trading day.🥰🥰🥰🥰🥰