Yesterday, following the correction, the gold price reached Intermediary Zone 1774 – 1772. The zone was not broken out, and the US session closed the price above. Today, the primary scenario suggests entering purchases according to the pattern with a target at 1792. The second upside target will be the upper Target Zone 1803 – 1799.
If the Intermediary Zone is broken out downside and the price consolidates below level 1772, the short-term trend will turn down. If so, it will be relevant to sell gold down to the target in the lower Target Zone 1755 – 1751.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1774 – 1772.
TakeProfit: 1792, Target Zone 1803 – 1799.
StopLoss: according to the pattern rules.
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