Gold forecast for today: XAUUSD analysis 26.07.2022

Gold’s short-term uptrend continues. Market participants are testing the Additional Zone at 1723 – 1721 — a strong support level from which new longs can be opened with a target at 22 July’s high.

If the Additional Zone is broken to the downside, the correction will continue with a target in the Intermediary Zone 1706 – 1703, which serves as the trend limit. Once that zone is tested, we will continue looking for an opportunity to buy. 

Trading plan for XAUUSD for today:

  1. Buy according to the pattern from Additional Zone 1723 – 1721.
    TakeProfit: 1739.
    StopLoss: According to pattern rules.
  2. Buy according to the pattern from Intermediary Zone 1706 – 1703.
    TakeProfit: 1739.
    StopLoss: According to pattern rules.

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