Gold price forecast for today: XAUUSD analysis 01.11.2022

Yesterday, the gold short-term trend turned down via the breakout of Intermediary Zone 1646 – 1643. The downside target is now the lower Target Zone 1618 – 1612. I recommend entering new sell trades in Additional Zone 1646 – 1644 and Intermediary Zone 1662 – 1659.

It will be relevant to buy gold if the price breaks out the upper Intermediary Zone and consolidates above today or tomorrow.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1646 – 1644.
    TakeProfit: 1631.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1662 – 1659.
    TakeProfit: 1631.
    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.