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Gold forecast for today: XAUUSD analysis 02.06.2022

Gold’s short-term uptrend continues, with the growth target being 24 May’s high.

The Intermediary Zone 1833 – 1830 was tested yesterday. The zone was held, and market participants are forming a pattern to buy today. Once a pattern forms, I suggest opening long positions with the target mentioned above.

If the Target Zone 1865 – 1858 is broken out to the upside and the price steadies there during the US session, the next growth target will be the Gold Zone 1898 – 1894.

To sell gold, market participants need to consolidate below level 1830. We will then have a shift to a downtrend and consider shorts with a target in the lower Target Zone 1797 – 1790.

Trading plan for XAUUSD for today:

Buy according to the pattern from Intermediary Zone 1833 – 1830.

TakeProfit: 1869.

StopLoss: according to pattern rules.




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