Gold price forecast for today: XAUUSD analysis 08.12.2022

The gold price hasn’t broken out the key support of the short-term uptrend 1767 – 1763. There was an upward price momentum yesterday. The price should continue rising with a target at the high of December 5. 

After the high of December 5 is broken through, the market could break out the Target Zone 1816 – 1807. If the TZ is broken out and the price consolidates above, the next upside target will be the Gold Zone 1839 – 1836.

It will be relevant to sell if the price breaks out level 1763 downside. If so, the short-term trend will turn down.

XAUUSD trading ideas for today:

Hold up buy trades entered at support (В) 1767 – 1763.
TakeProfit: 1810.
StopLoss: at breakeven.

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