The gold price tested the zone of 1914 – 1892. Buy limit orders must have accumulated in this zone, and the price rose to level 1927. The short-term trend remains up, and the gold price should continue rising up to the high of January 26. If the high of January 26 is broken through, the next upside target will be Gold Zone 1971 – 1968.
An alternative scenario: if the price breaks through yesterday’s low and breaks out level 1892, the short-term trend will turn down.
XAUUSD trading ideas for today:
Buy according to the pattern in the zone of 1914 – 1892.
StopLoss: according to the pattern rules.