Gold price forecast for today: XAUUSD analysis 11.05.2022

Gold broke out the Target Zone 1854 – 1847 within a short-term downtrend. The next target for sales is the Gold Zone 1818 – 1814. At the moment, the price is correcting, and trying to test the Additional Zone 1851 – 1850.

After the Additional Zone’s test, look for a sell pattern again. When it appears, sell gold with the first target at today’s low.

If the Additional Zone is broken out upside during trading, then the correction will continue with the target in the trend border of 1871 – 1868.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1851 – 1850.
    TakeProfit: 1832.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1871 – 1868.
    TakeProfit: 1832.
    StopLoss: according to the pattern rules.

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