Gold forecast for today: XAUUSD analysis 09.05.2023

Gold is trading in the short-term uptrend. The price is above the key support 2018 – 2012. One could enter long trades in the support zone with a target at the high of May 4. Enter purchases when there is a buy pattern.

If the low of May 5 is broken through, the short-term trend will turn down. In this case, one could enter a sell trade with a target at the lower Target Zone 1956 – 1943.

XAUUSD trading ideas for today:

Buy according to the pattern at support (В) 2018 – 2012.
TakeProfit: 2077.
StopLoss: according to the pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.