Gold price forecast for today: XAUUSD analysis 08.09.2022

The short-term gold downtrend continues. The target for sales is the Target Zone 2, 1677 – 1671. Yesterday, a correction occurred, within which the price entered the zone of favorable sell prices 1724 – 1707.

Today consider gold sales according to the pattern in the zone of 1724 – 1707. Focus on yesterday’s low as the first target.

A trend reversal by breaking out the Intermediary Zone 1724 – 1721 is required for entering purchases. In this case, the trend will reverse up, and the upper Target Zone 1760 – 1753 will become the target for purchases.

XAUUSD trading ideas for today:

Sell according to the pattern in the zone of 1724 – 1707.
TakeProfit: 1689.
StopLoss: according to the pattern rules.

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