Gold price forecast for today: XAUUSD analysis

The previous week’s gold low was updated. The price unsuccessfully tried to reach the Target Zone 1782 – 1775. As a result, the price corrected and reached the trend key resistance of 1826 – 1822. This resistance has not been broken out, so today, it is profitable to look for sales according to the pattern. The sales targets will be yesterday’s low and a Target Zone 1782 – 1775.

However, if during the trading session the price breaks out level 1826 and consolidates above, then the short-term trend will reverse up. In this case, it will be possible to consider long trades with the target in the upper Target Zone 1865 – 1858.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1826 – 1822.
TakeProfit: 1787.
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.