Gold price forecast for today: XAUUSD analysis 07.02.2022

The short-term gold uptrend continues. Friday’s high was updated today. Now the price is retreating and trading in correction with the target in the Additional Zone 1808 – 1807. After the test of the AZ, look for new purchases according to the pattern with the target at today’s high.

If today’s high is updated, then with a high probability, it will be possible to consolidate the price above the Target Zone 1813 – 1810. This will mean that the market will be able to reach the next target for purchases in the Gold Zone 1826 – 1825.

The trend key support is shifting to the zone of 1800 – 1798.

XAUUSD trading ideas for today:

Buy according to the pattern in Additional Zone 1808 – 1807.

TakeProfit: 1815.

StopLoss: according to the pattern rules.

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