Gold price forecast for today: XAUUSD analysis  08.03.2022

The short-term gold uptrend continues. Yesterday, traders tested the trend key support of 1969 – 1966. Then the traders were accumulating buy positions above the key support.

Today, traders have reached the TZ 2 2008 – 2002. At the moment they are trying to consolidate the price above the TZ. If successful, then the next target will be the Gold Zone 2 2035 – 2032.

Consider new purchases on correction at strong levels, Additional Zone 2004 – 2002 and trend border of 1987 – 1984. To enter trades, wait for a test of the levels indicated above and look for a pattern. Focus on today’s high as a target.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 2004 – 2002.

    TakeProfit: 2020.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1987 – 1984.

    TakeProfit: 2020.

    StopLoss: according to the pattern rules.

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