The short-term gold uptrend continued yesterday. The growth started in the trend key support zone of 1893 – 1886. As a result, the local high was updated. Now buyers are trying to consolidate the price above the Target Zone 2 1907 – 1904. If successful, the next target for purchases will be the Gold Zone 2 1920 – 1919.
If the price fails to consolidate above the Target Zone 2, a deep correction will begin with the target in the Intermediary Zone 1899 – 1897.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1899 – 1897.
StopLoss: according to the pattern rules.