Gold price forecast for today: XAUUSD analysis  18.05.2022

The short-term gold downtrend continues. The Intermediary Zone 1826-1822 was held yesterday. Therefore, today continue looking for sales according to the pattern with the first target at May 16 low and the second target in the Target Zone 1782-1775.

To enter purchases, traders need to break out the Intermediary Zone and consolidate the price higher in the American session. In this case, the short-term trend will reverse up, so consider purchases with a target up to the upper Target Zone 1865 – 1858.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1826 – 1822.

TakeProfit: 1787.

StopLoss: according to the pattern rules.

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