Gold price forecast for today: XAUUSD analysis 08.07.2022

After a strong fall in the middle of the week, gold has corrected with a possible target to test the Additional Zone 1752 – 1750. After the AZ test, look for a sell pattern with a target at July 6 low.

If the Additional Zone is broken out upside within the correction, the price will go up to the Intermediary Zone 1771 – 1768, which serves as the border of a short-term downtrend. It is also possible to look for sales in the beforementioned AZ with a target in July 6 low.

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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