Gold forecast for today: XAUUSD analysis 03.05.2023

The gold price broke through the high of April 26 and consolidated above, following an upward momentum yesterday. There has formed a buy pattern. One could enter long trades according to the pattern with a target at the high of April 13. If this high is broken through, the next upside target will be the Target Zone 2077 – 2069.

If support (B) 1986 – 1980 is broken out, the short-term trend will turn down. If so, one could enter sell trades with a target in the lower Target Zone 1924 – 1911.

XAUUSD trading ideas for today:

Buy according to the pattern at support (В) 1986 – 1980.
TakeProfit: 2047.
StopLoss: according to the pattern rules.

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