Gold price forecast for today: XAUUSD analysis 05.12.2022

Gold has reached the upper Target Zone 1816 – 1807 in the short-term uptrend. If Target Zone is broken out upside, the next target in the uptrend will be the Gold Zone 1839 – 1836.

One could enter new gold purchases on the corrections to strong levels, support (A) 1781 – 1778 and support (B) 1767 – 1763. To open a buy position, one should discover a corresponding pattern, The upside target could be set at today’s high.

XAUUSD trading ideas for today:

  1. Buy according to the pattern at support (А) 1781 – 1778.
    TakeProfit: 1810.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern at support (В) 1767 – 1763.
    TakeProfit: 1810.
    StopLoss: according to the pattern rules.




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