Gold price forecast for today: XAUUSD analysis  05.07.2022

Gold correction continues in the short-term downtrend with a target in the Intermediary Zone 1824 – 1820. After the IZ test, look for new gold sales with a target at July 1st low.

If during trading the Intermediary Zone is broken out upside and the price closes higher in the American trading session, the short-term trend will reverse up. In this case, from the next trading day, look for gold purchases with the target in the upper Target Zone 1863 – 1856.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1824 – 1820.
TakeProfit: 1785.
StopLoss: according to the pattern rules.

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