Gold forecast for today: XAUUSD analysis 22.05.2023

The gold price has been corrected up after it reached the Target Zone 1956 – 1943. The short-term trend remains down. After resistance (A) 1997 – 1993 is tested, one could enter new sell trades with a target at the low of May 18. 

If resistance (A) is broken out, the price should reach resistance (В) 2020 – 2014. This is the trend border, so one could also enter short tardes in the second resistance zone. 

XAUUSD trading ideas for today:

  1. Sell according to the pattern at resistance (А) 1997 – 1993.
    TakeProfit: 1953.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern at resistance (В) 2020 – 2014.
    TakeProfit: 1953.
    StopLoss: according to the pattern rules.

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