Gold price forecast for today: XAUUSD analysis 18.08.2022

Finally, the short-term gold trend reversed down. Yesterday, the Intermediary Zone 1775 – 1772 was broken out. Now the target for sales is the lower Target Zone 1742 – 1736.

Consider new gold sales on correction at strong resistance levels, Additional Zone 1777 – 1776 and Intermediary Zone 1795 – 1792. The IZ serves as the new trend’s border. Focus on yesterday’s low as the first target.

If during the trading the local low is updated, rearrange the margin zones according to the price.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1777 – 1776.
    TakeProfit: 1760.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1795 – 1792.
    TakeProfit: 1760.
    StopLoss: according to the pattern rules.

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