Gold forecast for today: XAUUSD analysis 09.06.2023

The gold short-term downtrend continues. The price is trading below resistance (А) 1978 – 1974. Today, I suggest holding down short trades entered in the resistance zone with the first target at the low of May 30 and the second one in the Gold Zone 1916 — 1912.

An alternative scenario suggests the price should break through the high of June 2 and go up to resistance (В) 2001 – 1995, the trend border. After the test of the second resistance zone, one could enter sell trades with a target at the low of May 30.

XAUUSD trading ideas for today:

Hold down sell trades entered at resistance (А) 1978 – 1974.
TakeProfit: 1932.
StopLoss: 1984.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.