Gold price forecast for today: XAUUSD analysis 02.08.2022

The gold price has reached the Gold Zone 1781 – 1778 today in the short-term uptrend. The price is now being corrected. The correction likely target is to test the Additional Zone 1764 – 1762. After an AZ test, one could enter new purchases according to the pattern with a target at today’s high.

If the Gold Zone is broken out upside, the next buy target in the trend will be the Target Zone 2, 1817 – 1810. The trend key support is in the zone 1747 – 1744. 

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1764 – 1762.
    TakeProfit: 1780.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1747 – 1744.
    TakeProfit: 1780.
    StopLoss: according to the pattern rules.

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