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Gold price forecast for today: XAUUSD analysis 17.02.2022

The short-term gold trend has again reversed up. Yesterday, the Intermediary Zone 1861 – 1859 was broken out. Today the upper Target Zone 1877 – 1874 was reached. If it is broken out and the price consolidates higher, the Gold Zone 1891 – 1889 will become the next purchase target.

Today, look for purchases according to the pattern at strong support levels. The Intermediary Zone 1862 – 1860 serves as the key support. Focus on the day’s high as a target for purchases.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1862 – 1860.

TakeProfit: 1877.

StopLoss: according to the pattern rules.

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