Gold forecast for today: XAUUSD analysis  24.05.2022

Trending up in the short term, gold reached the Target Zone 1865 – 1858 and settled there yesterday. The price then corrected and tested the Additional Zone 1847 – 1845. The Additional Zone was also held, and the quotes are currently rising. The growth target is yesterday’s high.

If it’s updated, the price can be expected to consolidate above the Target Zone. The next buying target will then be the Gold Zone 1898 – 1894.

The short-term uptrend’s boundary will move to 1829 – 1825.

Trading plan for XAUUSD for today:

  1. Buy according to the pattern from Additional Zone 1847 – 1845.
    TakeProfit: 1864.
    StopLoss: according to pattern rules.
  2. Buy according to the pattern from Intermediary Zone 1829 – 1825.
    TakeProfit: 1864.
    StopLoss: according to pattern rules.

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