Gold price forecast for today: XAUUSD analysis 01.09.2022

Yesterday, the precious metal reached the Gold Zone 1710 – 1707. The short-term downtrend continues. If the Gold Zone is broken out downside, the next target for sales will be the Target Zone 2, 1677 – 1671.

It is profitable to consider new gold sales on correction. Zones 1720 – 1718 and 1738 – 1734 serve as strong resistance levels. After testing these levels, wait for sales confirmation in the form of a pattern. Focus on today’s low as the first target for sales.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1720 – 1718.
    TakeProfit: 1702.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1738 – 1734.
    TakeProfit: 1702.
    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.