Gold price forecast for today: XAUUSD analysis 17.06.2022

The short-term gold trend reversed up yesterday. The Intermediary Zone 1844 – 1841 was broken out. Now the target for purchases is the upper Target Zone 1884 – 1877.

At the moment, the price is correcting and approaching the Additional Zone 1839 – 1837. After testing the AZ, consider purchases according to the pattern with a target at yesterday’s high.

If the Additional Zone is broken out downside during trading, the correction will continue with the target in the Intermediary Zone 1820 – 1817. After the IZ test, which serves as the border of a short-term uptrend, also look for purchases.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1839 – 1837.
    TakeProfit: 1857.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1820 – 1817.
    TakeProfit: 1857.
    StopLoss: according to the pattern rules.

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