Gold forecast for today: XAUUSD analysis 20.04.2023

Yesterday, the sellers were trying to break out the support zone of 1986 – 1980 and turn the short-term trend down. However, at the end of the US trading session, the price went up to the trend key support. Therefore, one could enter long trades with a target at the high of April 13. One should enter a purchase when there forms a buy pattern. The pattern will emerge if the price breaks out the high of April 18 and consolidates above.

If the price goes down and breaks through yesterday’s low, the short-term trend will turn down. If so, it will be relevant to sell with a target at the lower Target Zone 1924 – 1911.

XAUUSD trading ideas for today:

Buy according to the pattern at support (В) 1986 – 1980.
TakeProfit: 2047.
StopLoss: according to the pattern rules.






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