Gold price forecast for today: XAUUSD analysis 21.01.2022

Gold continues to strengthen in a short-term uptrend. Yesterday, the Target Zone 2 1850 – 1847 was reached. After reaching the TZ 2, large purchases were closed, and the price went into correction. As part of the correction, the price tested the Additional Zone 1839 – 1838. The AZ was held, and now the buyers’ reaction can be seen. Today, look for a pattern to open long trades with the target in the zone of level 1850.

If the Additional Zone is broken out during trading, then the correction will continue with the target in the Intermediary Zone 1831 – 1830. The IZ serves as the border of a short-term uptrend. It would also be reasonable to look for purchases in the abovementioned IZ.

XAUUSD trading ideas for today:

Buy according to the pattern in Additional Zone 1839 – 1838. TakeProfit: 1850. StopLoss: according to the pattern rules.

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