Gold price forecast for today: XAUUSD analysis 04.08.2022

The gold price continues to rise in the short-term uptrend. The market was testing the trend key support zone 1755 – 1752 yesterday. The zone was held up. The price went higher than yesterday’s high today.

The gold price should continue growing with a target at the high of August 2. If this high is broken through, the gold price could consolidate above the Gold Zone 1781 – 1778. If so, the next upside target in the trend will be the Target Zone 2, 1817 – 1810.

XAUUSD trading ideas for today:

Buy/hold up buy trades entered according to the pattern in the Intermediary Zone 1747 – 1744.

TakeProfit: 1780.

StopLoss: according to the pattern rules.

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