MARKET WAITS FOR TRUMP–XI TRADE CALL XAUUSD PLAN – JUNE 3

XAUUSD PLAN – JUNE 3 | GOLD CORRECTS AFTER $100 SURGE | MARKET WAITS FOR TRUMP–XI TRADE CALL

After an explosive $100+ rally earlier this week, gold has entered a sharp correction phase, dropping $30 during the Asian session. This pullback comes as the market anticipates a high-level trade call between former President Trump and President Xi Jinping, which could reshape short-term expectations around US–China relations and global risk sentiment.

🌍 MACRO CONTEXT – POLITICS MEETS FINANCE:
The upcoming Trump–Xi call is expected to guide markets over the next few sessions and may impact trade risk positioning.

Investors have begun profit-taking following the aggressive rally, leading to temporary risk-off sentiment and cash-out flows.

From an Elliott Wave perspective, wave 3 (the strongest wave) may have completed, and price could now retrace into lower FVG zones to gather liquidity for the next upward move.

📈 TECHNICAL STRUCTURE (H1–H4 – EMA 13/34/89/200):
On higher timeframes (H4 and D1), gold maintains a strong bullish structure.

Price appears to have peaked near 3,402 – 3,409, and is now retracing toward the key FVG support zone between 3,320 – 3,310.

EMAs are beginning to compress after a strong expansion – suggesting the market may consolidate or correct further in the short term.

🧭 KEY PRICE LEVELS:
Support: 3,346 – 3,340 – 3,318 – 3,310 – 3,295

Resistance: 3,374 – 3,388 – 3,402 – 3,410

🔍 TRADE SETUPS:
🔵 BUY ZONE: 3,320 – 3,318
Stop Loss: 3,314

Take Profits:
3,324 – 3,328 – 3,332 – 3,336 – 3,340 – 3,344 – 3,350 – 3,360 – 3,374+

Buy on dips into the liquidity zone or after confirmation candles near EMA13–34 support. Ideal entry for positioning ahead of a potential wave 5 continuation.

🔻 SELL ZONE: 3,388 – 3,390
Stop Loss: 3,394

Take Profits:
3,384 – 3,380 – 3,376 – 3,370 – 3,366 – 3,360 – 3,350

Sell only if there is a strong rejection or bearish divergence near the recent highs – this zone marks the top of wave 3 and potential exhaustion.

📌 SUMMARY:
Gold’s macro structure remains bullish, but short-term corrections are expected. Price may dip into FVG zones to absorb liquidity before launching the next move. Avoid FOMO and follow technical zones with disciplined SL.