Gold price forecast for today: XAUUSD analysis 08.02.2022

Yesterday, gold broke out the Target Zone 1813 – 1810. The next target for purchases is the Gold Zone 1826 – 1825. At the moment, the price is correcting. A possible correction target is a test of the Additional Zone 1816 – 1815. After the test of the AZ, look for new purchases with the first target at yesterday’s high.

If the AZ is broken out downside during the trading session, the correction will continue with the target in the Intermediary Zone 1808 – 1807. The IZ serves as the border of a short-term uptrend, so look for purchases in it as well.

XAUUSD trading ideas for today:

Buy according to the pattern in Additional Zone 1816 – 1815.

TakeProfit: 1823.

StopLoss: according to the pattern rules.

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