Gold price forecast for today: XAUUSD analysis  08.06.2022

Gold is trading in a correction. Yesterday, the trend key support 1838 – 1834 was tested during the trading session. The zone was held, so today, it is relevant to search for purchases in this zone. The target for purchases will be June 3 high. After updating the high, the price will move to the Gold Zone 1898 – 1894.

To enter gold sales and reverse the trend, traders need to break out level 1828 and consolidate the price lower. In this case, 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.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.