Traders are trying to reverse the XAUUSD short-term trend down. If successful, the next target for sales will be the lower Target Zone 1894 – 1886. Otherwise, if the price returns to the key support of 1930, expect a pattern to form and go long with the target at March 24 high.
If the upper Target Zone 1974 – 1967 is broken out after this week’s trading, then the growth target will be the Gold Zone 2006 – 2003.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1930 – 1926.
StopLoss: according to the pattern rules.