XAUUSD: Market Analysis and Strategy for August 3GoldOANDA:XAUUSDActuaryJThe July candlestick chart closed with a small doji, the 5-day moving average (MA5) is trending downwards, the KDJ indicator has formed a death cross at a high level, and the MACD indicator shows increasing downward momentum. The monthly trend is bearish, and gold is expected to continue testing bottom support in August and September. On the daily chart, gold's recent price action has been volatile, with one day rising followed by a day falling, maintaining a consolidation phase. The US dollar index has shown a clear trend recently, falling sharply, which is likely to support gold's price movement in the near term. Today, gold prices rose to around $4080 before falling back to around $4041 before rebounding. The KDJ indicator, after being oversold, has turned into a golden cross at a low level, and the accompanying indicators are turning upwards. The MACD indicator shows decreasing downward momentum, indicating a relatively bullish short-term trend. Considering the daily chart of the US dollar index, we can wait for a pullback to support levels to buy. Support levels to watch are the Asian session low of $4040 and Friday's low of $4020, while resistance is at $4100. My suggestion: BUY: 4045-4050 (near), SL: 4035, TP: 4080-4090