FX.co ★ Analysis of Gold for June 03,.2020 - Yesterday's target at the price of $1.720 has been reached. Next downward target set at $1.696

Corona virus summary:

The World Health Organization and a number of national governments have changed their Covid-19 policies and treatments on the basis of flawed data from a little-known US healthcare analytics company, also calling into question the integrity of key studies published in some of the world's most prestigious medical journals.

Technical analysis:

Gold has been trading towards as we expected after the breakout of the symmetrical triangle pattern in the background. The Gold reached yesterday's downside objective at $1,720. Anyway, I still see further downside towards the $1,696.

Trading recommendation:

Watch for selling opportunities on the rallies using the intraday frames 5/15 minutes for better entry location.

The downside target is set at $1,696 and SL can be placed at $1,727