XAUUSD – Monday, July 7th Analysis

Gold is sitting on a knife’s edge as we enter the NY session.

Current price action:

Rejected twice at 3307 on the 4hr

Broke Friday’s low

Now approaching today’s low

Scenario 1 – Bearish:

Clean break below current 4hr low → target: 3274 (323 pips)

This is a key higher timeframe swing level, last tested in May

Scenario 2 – Bullish:

If we reject current lows and support forms →

First target: 3307 (170 pips)

Second target: 3344 (390 pips)

📌 Risk is balanced — both directions offer 300+ pips. Monitor structure + volume closely.