Gold price forecast for today: XAUUSD analysis 20.06.2022

The short-term gold uptrend continues. Its goal is to reach the upper Target Zone 1884 – 1877. On Friday, a correction began within which traders tested strong support, the Additional Zone 1839 – 1837. The zone was held, so today it is relevant to search for purchases according to the pattern in this zone today.

If the Additional Zone is broken out downside during today’s trading, the correction will continue with the target in the Intermediary Zone in 1821 – 1817. The IZ serves as the trend’s border. After reaching it, also look for purchases. The first target for purchases will be June 16 high.

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 1821 – 1817.
    TakeProfit: 1857.
    StopLoss: according to the pattern rules.

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