Gold continues trading down in the short-term trend. The price has tested the resistance zone of 1940 – 1936 today. The sellers formed a sell pattern in the resistance zone. One could enter shorts on the correction today with a target at the low of June 29.
If the low of June 29 is broken through, the next downside target will be the lower Target Zone 1873 – 1864.
If the price exceeds the high of July 5, it might break out resistance (A) and go up to resistance (В) 1963 – 1956.
XAUUSD trading ideas for today:
- Sell according to the pattern at resistance (А) 1940 – 1936.
TakeProfit: 1893.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 1963 – 1956.
TakeProfit: 1893.
StopLoss: according to the pattern rules.
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