Gold price forecast for today: XAUUSD analysis 16.12.2022

The gold short-term uptrend continues. The price has been corrected down to the zone of 1785 – 1766. This is the zone of good buy prices; enter long trades when there is a corresponding signal. The upside target is the high of December 13.

If the high of December 13 is broken through, the price will break out the Target Zone 1816 – 1807. If so, the next upside target will be the Gold Zone 1839 – 1836.

It will be relevant to sell when the trend reverses down after the price breaks out level 1766 downside. In this scenario, the downside target will be the lower Target Zone 1728 – 1719.

XAUUSD trading ideas for today:

Buy according to the pattern in the zone of 1785 – 1766.
TakeProfit: 1824.
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.