Gold price forecast for today: XAUUSD analysis 10.05.2022

The short-term gold downtrend continued yesterday. As a result, the price reached the Target Zone 1854 – 1847. This support has not been broken out, so no further decline is expected yet. In order for the price to decline to the Gold Zone 1818 – 1814, it is necessary to close today’s American session below level 1847.

It is profitable to consider new sales on correction at strong resistance levels, Additional Zone 1870 – 1869 and Intermediary Zone 1891 – 1887. Focus on the day’s low as a target.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1870 – 1869.
    TakeProfit: 1852.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1891 – 1887.
    TakeProfit: 1852.
    StopLoss: according to the pattern rules.

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