Gold price forecast for today: XAUUSD analysis  17.03.2022

After yesterday’s decision by the Fed to raise interest rates by 25 basis points, gold has sharply corrected in the trend key resistance zone of 1934 – 1931. This resistance has not been broken out, so now, consider sales according to the pattern with a target at yesterday’s low.

If during today’s trading level 1934 is broken out upside and the price consolidates above, then the short-term trend will reverse up. In this case, look for purchases with a target in the upper Target Zone 1974 – 1967.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1934 – 1931.

TakeProfit: 1897.

StopLoss: according to the pattern rules.

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