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Gold price forecast for today: XAUUSD analysis05.04.2022

Gold is trying to leave the zone of favorable buy prices 1913 – 1910. If the price consolidates above level 1931, it will be possible to open long trades with a target in the upper Target Zone 1969 – 1962. After updating March 31 high, it will be possible to transfer purchases to breakeven.

To enter sales and reverse the trend, traders need to break out level 1910 and consolidate the price lower. In this case, the short-term trend will reverse down, and the target for sales will be the lower Target zone 1877 – 1870.

XAUUSD trading ideas for today:

Open buy positions according to the pattern in the zone of 1931 – 1910.

TakeProfit: 1949, Target Zone 1969 – 1962.

StopLoss: according to the pattern rules.




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