Gold forecast for today: XAUUSD analysis 11.05.2023

The Gold Zone continues trading in the short-term uptrend. The price is trading above the key support 2018 – 2012. One could enter new purchases with a target at the high of May 4 in the Target Zone 2077 – 2069. To enter purchases, one should expect a buy pattern.

If the price goes down and breaks through the low of May 5, the short-term trend will turn down. In this case, one could enter sell trades 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.