Gold price forecast for today: XAUUSD analysis 09.05.2022

Last week, traders unsuccessfully tried to break out the Intermediary Zone 1890 – 1886. As a result, a local corridor was formed between the levels of 1890 – 1870. If the price goes up or down from this corridor, it will mark a further direction for gold trading.

If level 1870 is broken out and the price consolidates below, consider sales with the target at May 3 low.

After the breakout of level 1890 and price consolidation above, consider purchases with the first target at May 5 high and with the second target in the upper Target Zone 1929 – 1922.

XAUUSD trading ideas for today:

Watch the market.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.