Gold price forecast for today: XAUUSD analysis 18.11.2022

Yesterday, the gold price corrected and reached support (A) 1757 – 1755. The buyers held this support zone, so today, consider long trades at current prices (1765), with a target at November 15 high. If November 15 high is updated, the price will reach the Target Zone 3, 1793 – 1787.

When support (A) is broken out, the price will continue to correct down to support (B) 1743 – 1739. Support (B) serves as the trend border. After the price reaches the trend border, consider purchases with the target at November 15 high.

XAUUSD trading ideas for today:

  1. Buy/hold buy trades entered in support (A) 1757 – 1755.
    TakeProfit: 1785.
    StopLoss: 1751.
  2. Buy according to the pattern in support (B) 1743 – 1739.
    TakeProfit: 1785.
    StopLoss: according to the pattern rules.

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