Gold price forecast for today: XAUUSD analysis 04.05.2022

After reaching the Target Zone, 1854 – 1847, gold corrected and tested the Additional Zone, 1870 – 1868. The AZ was held, so today, searching for sales according to the pattern with a target at yesterday’s low is highly prioritized.

If, during the trading, the Additional Zone is broken out upside, the price will correct in the Intermediary Zone, 1890 – 1886, which serves as the border of a short-term downtrend. Look for sales there as well.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1870 – 1868.
    TakeProfit: 1851.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1890 – 1886.
    TakeProfit: 1851.
    StopLoss: according to the pattern rules.

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