Gold forecast for today: XAUUSD analysis 07.03.2023

Gold is still trading down in the short term. The price tested resistance (B) 1865 – 1860 yesterday. One could enter new shorts today with a target at the low of February 28. After the low of February 28 is broken through, the next downside target will be Target Zone 1796 – 1789.

If resistance is broken out and the price consolidates above, the short-term trend will turn up. If so, one could buy gold starting form tomorrow with a target at the upper Target Zone 1926 – 1915.

XAUUSD trading ideas for today:

Sell according to the pattern at resistance (В) 1865 – 1860.
TakeProfit: 1805.
StopLoss: according to the pattern rules.

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