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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