Gold forecast for today: XAUUSD analysis 26.05.2022

Gold continues trending up in the short term. After a failure to break out Target Zone 1865 – 1858, the price corrected to the area of Additional Zone 1850 – 1849. Buyers managed to hold the Additional Zone. Today, we are looking for a pattern to buy with a target at 24 May’s maximum.

If 24 May’s maximum is updated, we’ll have a big chance to consolidated above Target Zone. The next growth target will then be the Gold Zone 1898 – 1894.

If the Additional Zone is broken to the downside, the correction will continue with a target in Intermediary Zone 1833 – 1830.

Trading plan for XAUUSD for today:

  1. Buy according to the pattern from Additional Zone 1851 – 1849.
    TakeProfit: 1869.
    StopLoss: according to pattern rules.
  2. Buy according to the pattern from Intermediary Zone 1833 – 1830.
    TakeProfit: 1869.
    StopLoss: according to pattern rules.

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