Yesterday, the gold price again reached the Target Zone 1997 – 1989. This a strong resistance zone, and the price won’t go higher as the resistance hasn’t been broken out yet. The gold short-term uptrend should continue if the price breaks out level 1997 and consolidates above. In this scenario, the upside target will be the Gold Zone 2033 – 2029.
It will be relevant to sell if the price breaks out the trend border in the zone of 1949 – 1943. In this case, the short-term trend will turn down, and the downside target will be the lower Target Zone 1889 – 1877.
XAUUSD trading ideas for today:
Buy according to the pattern at support (В) 1949 – 1943.
StopLoss: according to the pattern rules.
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