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Gold forecast for today: XAUUSD analysis 06.02.2023

The gold short-term trend turned down last Friday. The price reached Target Zone 1865 – 1855. The market is being corrected up now.

The correction target could be the test of resistance (А) 1897 – 1894. After the resistance is tested, one could enter new sell trades according to the pattern with a target at today’s low.

The trend border is in the zone of 1916 – 1911.

XAUUSD trading ideas for today:

  1. Sell according to the pattern at resistance (А) 1897 – 1894.
    TakeProfit: 1860.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern at resistance (В) 1916 – 1911.
    TakeProfit: 1860.
    StopLoss: according to the pattern rules.







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