The gold short-term downtrend continued yesterday. The first downside target is the low of June 15, the second one is the Gold Zone 1916 – 1912. Therefore, it is relevant to hold sell trades entered at resistance (А) 1970 – 1966 down to the above-indicated targets.
If the Gold Zone is broken out and the price consolidates below, the next downside target will Target Zone 1873 – 1864.
If the price goes up and breaks through the high of June 16, it will test resistance (В) 1993 – 1986. One could enter sell trades in the zone.
XAUUSD trading ideas for today:
- Hold down sell trades entered at resistance (А) 1970 – 1966.
TakeProfit: 1925.
StopLoss: 1969. - Sell according to the pattern at resistance (В) 1993 – 1986.
TakeProfit: 1925.
StopLoss: according to the pattern rules.
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