Gold price forecast for today: XAUUSD analysis 07.07.2022  

The short-term gold downtrend continued yesterday. As a result, the Gold Zone 1749 – 1745 was broken out. The next target for sales is the Target Zone 1713 – 1706. At the moment, the price is correcting and approaching a strong resistance level, the Additional Zone 1752 – 1750.

After the AZ test, consider gold sales with the first target at yesterday’s low.

If the Additional Zone is broken out upside and the price consolidates above, the correction will continue with the target in the trend border of 1770 – 1768. It is also possible to look for sales according to the pattern in the beforementioned border.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1752 – 1750.
    TakeProfit: 1732.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1770 – 1768.
    TakeProfit: 1732.
    StopLoss: according to the pattern rules.

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