Gold price forecast for today: XAUUSD analysis  29.07.2022

The gold price has broken out the Target Zone 1752 – 1745. The next upside target is the Gold Zone 1781 – 1778. I recommend entering new long trades on the correction to the strong support levels. The strong support levels are the Additional Zone 1751 – 1750 and the Intermediary Zone 1735 – 1732. Open buy positions according to a corresponding pattern.

It will be relevant to sell if the trend turns down via the breakout of level 1732 downside. This is an unlikely scenario at the moment.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1751 – 1750.
    TakeProfit: 1767.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1735 – 1732.
    TakeProfit: 1767.
    StopLoss: according to the pattern rules.

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