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 readSOLUSD trades at 73.97 as of Wednesday's close, up from Monday's open of 73.46. That is a gain of roughly 0.7 percent on the week so far. The high across the three sessions is 74.33, printed Wednesday, and the low is 71.81, set during Monday's dip. Price has spent the week grinding back up toward the top of that range.
There has been no crypto-specific catalyst on the tape this week. The loudest macro headline was the PBOC fixing USD/CNY weaker than the Reuters estimate on Wednesday. A softer yuan fix leans mildly dollar-supportive, which is a headwind for risk assets like SOL, yet the token has absorbed it and pushed higher regardless. That tells you the current bid is holding its own against a firmer dollar backdrop, unlike some of the weaker majors such as Cardano.
The calendar for the back half of this week carries no scheduled high-impact releases in the bundle, so price action will be driven by flow and the daily PBOC fixings rather than a single dated event. If the PBOC keeps fixing USD/CNY weaker than estimate into Thursday and Friday, expect the dollar to stay firm and SOL to work harder for every push above 74. If the fixings snap back toward estimate, that headwind eases and the range top comes under more direct pressure.
Sentiment on our book reads 61 percent long against 39 percent short as of Wednesday morning. That is a clear lean toward the upside, and it lines up with the three-day grind higher. A crowded long book also means any failure to clear the range top can flush quickly if late buyers get caught.
The 74.33 area is the line in the sand. Every session this week has stalled between 74.12 and 74.33, and Wednesday's close at 73.97 sits just beneath it. If buyers force a clean break above 74.33, price enters open air above the week's high. If the level holds as resistance and price rolls over, the 73.23 zone that capped Wednesday's low is the first support to watch, with 71.81 behind it. Traders weighing that range can open a position through your LHFX account and track both edges as they develop.
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.
