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Gold price forecast for today: XAUUSD analysis 03.02.2022

Gold has worked out a first-priority buy pattern and reached the upper Target Zone 1813 – 1810. Now the price is trading in a correction. The first target of the correction is the Additional Zone 1803 – 1802. After the test of the AZ, look for purchases again with the target at yesterday’s high.

If the AZ is broken out during the trading session, then the correction will continue with the target at the key support. The trend key support is shifting to the zone of 1795 – 1794. As long as this zone is being held and the price trades higher, the short-term trend will remain up.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1803 – 1802.

    TakeProfit: 1810.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1795 – 1794.

    TakeProfit: 1810.

    StopLoss: according to the pattern rules.

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