Gold is trading in the short-term uptrend. The primary upside target is the high of December 5. When the high is broken through, the price could break out the Target Zone 1816 – 1807. In this case, the next target will be the Gold Zone 1839 – 1836.
An alternative scenario suggests the price should go down and break through the low of December 5. If so, the market could turn down via the breakout of level 1763 and consolidation below.
XAUUSD trading ideas for today:
Held up purchases entered at support (В) 1767 – 1763.
TakeProfit: 1810.
StopLoss: at breakeven.
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