Gold forecast for today: XAUUSD analysis 24.01.2023

The gold short-term uptrend continues. The price is approaching the high of January 20 and could break it through. If the high is broken through, one should see if the buyers break out Target Zone 1940 – 1933 and consolidate above. If the TZ is broken out, the next upside target will be the Gold Zone 1971 – 1968. Otherwise, the price will be corrected. 

If the correction develops, the price could reach a strong support zone. When any of the support zones is tested, one could enter new purchases with a target at the high of January 20.

XAUUSD trading ideas for today:

  1. Buy according to the pattern at support (А) 1902 – 1899.
    TakeProfit: 1936.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern at support (В) 1885 – 1880.
    TakeProfit: 1936.
    StopLoss: according to the pattern rules.

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