The short-term gold downtrend continues. Yesterday, the traders tested the Intermediary Zone 1915 – 1912. The zone was held. The target of the price fall is Friday’s low.
If Friday’s low is updated in the Gold Zone 1884 – 1881, expect this support to be broken out and further downward movement to the Target Zone 2 1854 – 1848.
However, if the IZ is broken out upside and the price closes above level 1915 at the American trading session, the short-term trend will reverse up. In this case, consider gold purchases with a target in the upper Target Zone 1948 – 1942.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1915 – 1912.
StopLoss: according to the pattern rules.