Gold price forecast for today: XAUUSD analysis 09.08.2022

Gold continues to trade in a short-term uptrend. The growth target is the Target Zone 2, 1817 – 1810. At the moment, the price is correcting.

Today, look for purchases according to the pattern at strong support levels. The nearest strong support level is the Intermediary Zone 1762 – 1759. Wait for the test of the zone, then look for a reversal buy pattern and open a long trade according to this signal in order to update the August 4 high.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1762 – 1759.

TakeProfit: 1794.

StopLoss: according to the pattern rules.

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