EnglishMyanmar (Burmese)

Gold price forecast for today: XAUUSD analysis  12.05.2022

Yesterday, the gold price corrected and tested the Additional Zone 1851 – 1850. Today the correction continues. Traders are trying to break out the Additional Zone and consolidate the price higher. If successful, the price will reach the Intermediary Zone 1871 – 1868.

The Intermediary Zone serves as the border of a short-term downtrend. After reaching it, look for a sell pattern with the first target at yesterday’s low and the second target in the Gold Zone 1818 – 1814.

The breakout of the Intermediary Zone and price consolidation higher is required for purchases.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1871 – 1868.

TakeProfit: 1832.

StopLoss: according to the pattern rules.





Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.