Market Analysis
XAUUSD midweek: gold breaks above 4160, where we are 2026-08-03
Gold is up roughly 89 dollars from Monday's open, having cleared 4172.77 intraday as Hormuz deal hopes ease inflation fears.
2 min readBTCUSD last printed 64,238 on Wednesday, up about 770 dollars from Monday's open of 63,466. The week's high sits at 64,461, set Tuesday, and the low is 62,173 from Monday's early dip. Price has climbed three sessions in a row and now trades near the top of its weekly range.
There is no scheduled data print behind this move. The main headline crossing the wires was a weaker-than-expected PBOC USD/CNY fixing Wednesday, which came in softer than the Reuters estimate. A softer yuan fix tends to feed a firmer dollar tone, yet BTCUSD has pushed higher regardless, suggesting the grind up is being driven by spot demand rather than a macro catalyst.
The calendar for the back half of this week is empty of scheduled high-impact events, so price action stays technically led. Watch the PBOC fixings each session for the dollar tone. If the fix keeps coming in weaker than estimate and the dollar firms, BTCUSD may struggle to extend above the weekly high. If the yuan stabilises and risk appetite holds, the recent bid can carry into Thursday and Friday.
As of Wednesday, LHFX client positioning shows 53 percent long against 47 percent short. That is a slim majority leaning with the three-day uptrend. A skew this narrow tells you consensus is far from crowded, which leaves room for the move to run before positioning becomes a headwind.
The 64,461 weekly high is the line BTCUSD is fighting at right now. If buyers clear it and hold, 65,000 becomes the next round number in view. If the reject holds, watch Tuesday's 63,217 low as the first support that keeps the uptrend intact. Traders watching the broader crypto tone can also track Ethereum for confirmation, and you can follow both from your LHFX account.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
