Gold price forecast for today: XAUUSD analysis  28.10.2022

Gold is trading in a short-term uptrend. The growth target is to update October 26 high. At the moment, traders are testing the Additional Zone 1660 – 1659 and trying to break it out downside.

If the sellers manage to break out the Additional Zone, the correction will continue with the target in the Intermediary Zone 1646 – 1643. The IZ serves as the trend key support. If it is reached by price, consider purchases according to the pattern with the target at October 26 high.

To enter gold sales, traders need to break out the Intermediary Zone and close the price lower in the American trading session.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1660 – 1659.
    TakeProfit: 1675.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1646 – 1643.
    TakeProfit: 1675.
    StopLoss: according to the pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.