The weakening USD supports gold, and XAUUSD quotes may continue their upward movement, testing resistance near 3,415 USD. Discover more in our analysis for 21 July 2025.
XAUUSD forecast: key trading points
- US Leading Economic Index: previously at -0.1%, projected at -0.2%
- Current trend: moving upwards
- XAUUSD forecast for 21 July 2025: 3,415
Fundamental analysis
Today’s XAUUSD analysis shows gold trading around 3,367 USD per ounce, rising after last week’s drop to the 3,319 USD support level. That decline may be caused by intensifying disputes and uncertainty surrounding US tariffs.
Dovish signals from Fed officials raise expectations of monetary policy easing, which could fuel further optimism for XAUUSD and strengthen gold’s position.
The XAUUSD price forecast also factors in the possibility that the US Leading Economic Index will remain in negative territory at -0.2%, adding weight to expectations of a weakening US dollar.
XAUUSD technical analysis
On the H4 chart, XAUUSD prices have formed a Hammer reversal pattern near the lower Bollinger Band. At this stage, prices are forming an upward wave as the pattern unfolds. Since the pair remains within the ascending channel, further bullish momentum remains possible. The next upside target may be the 3,415 USD resistance level.
However, today’s XAUUSD technical analysis also considers an alternative scenario involving a price correction to 3,340 USD before further growth.
The uptrend remains viable, and XAUUSD quotes could target the 3,500 USD level in the near future.
Summary
The XAUUSD forecast for today, 21 July 2025, aligns with the technical analysis, which suggests a move towards 3,415 USD. A decline in the US Leading Economic Index could act as an additional trigger for USD weakness.
Source: Roboforex
