Gold price forecast for today: XAUUSD analysis 16.02.2022

Yesterday, the short-term gold trend reversed down after the Intermediary Zone 1864 – 1863 breakout. The main target for sales was immediately reached in the Target Zone 1849 – 1846. Today, a correction continues. The test of key resistance 1861 – 1859 serves as a correction target. After the key resistance test, look for new gold sale patterns with a target at yesterday’s low.

If the lower Target Zone is broken out and the price consolidates below it, the next sell target will be the Gold Zone 1834 – 1833.

XAUUSD trading ideas for today:

Sell according to the pattern in the zone of 1861 – 1859.

TakeProfit: Gold Zone 1834 – 1833.

StopLoss: according to the pattern rules.

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