Gold Soars: USD Weakness Pushes Gold Towards $3,800?GoldOANDA:XAUUSDShadowReaper_Hello traders, currently gold is in an uptrend, driven by the weakening of the USD and disappointing U.S. economic data. In the latest news, the Flash Manufacturing PMI (actual 46.2 vs. 47.0 previously) and Flash Services PMI (actual 51.9 vs. 54.2 previously) have both decreased, indicating that the U.S. economy is weakening. As the economy slows, the USD loses value, and investors begin to seek gold as a safe-haven asset. This has contributed to the increase in gold prices. From a technical perspective, the chart shows that gold is trading in a clear upward channel. The current price is breaking through significant resistance levels, and the next target could be $3,850. If gold maintains this trend and does not break support levels, the likelihood of continued price growth is high. Trading strategy: If gold holds the support level at $3,735 and does not fall below this level, traders could consider opening a BUY position with a target of $3,850. In conclusion, with the weakness of the USD and technical trends supporting the move, gold has the potential to continue its strong upward momentum. Investors can look for buying opportunities as long as the price remains above the current support levels.