Gold is trading in the short-term downtrend. The price is under resistance (А) 1978 – 1974. Last week, the gold price tested this resistance zone.
Therefore, the gold trades should be holding sell trades. The first downside target is the low of May 30. The second sell target is the Gold Zone 1916 – 1912.
If the price breaks out resistance (A), it will go up to resistance (B) 2001 – 1995, which is the trend border, so one could also enter sell trades there.
XAUUSD trading ideas for today:
Hold down sell trades entered at resistance (А) 1978 – 1974.
TakeProfit: 1932.
StopLoss: 1984.
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