Gold price forecast for today: XAUUSD analysis 10.11.2022

Gold is trading in the short-term uptrend. The upside target is Target Zone 2, 1736 – 1730. The price is now being corrected and testing Additional Zone 1708 – 1706. To enter new purchases, there should be a buy pattern. When the pattern emerges, one could enter a long trade with the first target at yesterday’s high.

If the Additional Zone is broken out downside, the correction will continue with the target at the Intermediary Zone 1693 – 1690. The Intermediary Zone is the border of the short-term uptrend, where I also recommend entering long trades.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1708 – 1706.
    TakeProfit: 1721.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1693 – 1690.
    TakeProfit: 1721.
    StopLoss: according to the pattern rules.

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