Gold price forecast for today: XAUUSD analysis 29.11.2021

Last Friday, the short-term gold trend reversed down. Now the price is correcting and approaching the trend border 1801 – 1799. After testing the trend border, look for a sell pattern and start selling the precious metal in order to update Friday’s low and reach the lower Target Zone 1778 – 1774.

An alternative scenario suggests a breakout of level 1801 and the price consolidation higher. In this case, the short-term trend will reverse up. So, it will be profitable to search for purchases with a target in the upper Target Zone 1821 – 1817.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1801 – 1799.

TakeProfit: 1780.

StopLoss: according to the pattern rules.

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