7.7 Tuesday Gold Midday Thoughts

The overall logic remains bullish. Non-farm payroll data fell far short of expectations, leading the market to lower the probability of a Fed rate hike. The U.S. dollar and Treasury yields are under pressure and declining, while the allocation value of non-yielding gold continues to rise.
On the technical side, the daily moving averages have formed a golden cross. In the short term, the structure remains bullish supported by the 4130-4150 support level. Intraday pullbacks to support are opportunities to buy on dips. The first target above is the strong resistance at 4180-4200. A firm break above this level could see prices rise to the 4240 line. The 4100 level is the key defense line for this bullish trend. As long as it is not broken, the current rebound trend will not change.
The intraday trend focuses on buying on pullbacks, relying on the fundamental easing expectations and the technical bottoming pattern for a follow-through bullish move. Wait for the Fed meeting minutes tonight to provide further bullish momentum. Hold onto low-level long positions with patience.
Operation suggestion: Buy on pullback to 4120-4130, target 4155, and if broken, see 4180. $BTC $ETH $SOL