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Gold price forecast for today: XAUUSD analysis 17.11.2022

The gold price is being corrected down in the short-term uptrend. The correction target might be the test of the Intermediary Zone 1757 – 1755. After the IZ is tested, I suggest entering new purchases with a target at the high of November 15.

If the Intermediary Zone is broken out downside, and the US session closes the price below, the short-term will turn down. In this scenario, one could sell gold starting from tomorrow with a target in the lower Target Zone 1729 – 1723.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1757 – 1755.
TakeProfit: 1785.
StopLoss: according to the pattern rules.







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