Gold price forecast for today: XAUUSD analysis 01.08.2022

The gold uptrend continues. The price broke out the Target Zone 1752 – 1745 upside, and the next buy target is the Gold Zone 1781 – 1778. I recommend entering new purchases on the correction at the strong support levels. Strong support levels are the Additional Zone 1751 – 1750 and the Intermediary Zone 1735 – 1732. The first upside target is around the high hit last Friday.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1751 – 1750.
    TakeProfit: 1767.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1735 – 1732.
    TakeProfit: 1767.
    StopLoss: according to the pattern rules.

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