Gold price forecast for today: XAUUSD analysis 11.02.2022

Yesterday, gold reached the Target Zone 1843 – 1840. After that, large purchases were closed, and the price went into correction. The trend key support 1827 – 1825 was tested as part of the correction.

Today, sellers are trying to reverse the trend down by breaking out the key support. If successful, then from Monday, sell gold with the target in the lower Target Zone 1812 – 1809.

If the Intermediary Zone is held and the price returns closer to this support by the US trading session, continue looking for buy patterns with a target around yesterday’s high.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1827 – 1825.

TakeProfit: 1841.

StopLoss: according to the pattern rules.

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