Gold price forecast for today: XAUUSD analysis 01.03.2022

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.

TakeProfit: 1884.

StopLoss: according to the pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.