Gold price forecast for today: XAUUSD analysis  07.06.2022

Gold continues to trade in a short-term uptrend. Yesterday, traders tested the key support of 1838 – 1828, which is currently being held. So the search for purchases according to the pattern is a priority. The first target for purchases will be June 3 high. The second target will be the Gold Zone 1898 – 1894.

To sell the precious metal, traders need to break out level 1828 and consolidate the price lower. After that, the short-term trend will reverse down, so consider sales with a target in the lower Target Zone 1802 – 1794.

XAUUSD trading ideas for today:

Open buy positions according to the pattern in 1838 – 1828.
TakeProfit: 1873.
StopLoss: according to the pattern rules.

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