Gold price forecast for today: XAUUSD analysis 24.08.2022

Yesterday, an Additional Zone 1745 – 1744 was broken out as part of a correction in a short-term downtrend. Therefore, further development of the correction in the Intermediary Zone 1763 – 1760 is possible. After the IZ test, consider gold sales with a target at August 22 low.

If during trading the price returns under the Additional Zone again and consolidates below, this resistance will again be considered relevant, so it will be possible to look for short trades there.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1745 – 1744.
    TakeProfit: 1728.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1763 – 1760.
    TakeProfit: 1728.
    StopLoss: according to the pattern rules.

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