Yesterday, a short-term gold downtrend continued. As a result, the price reached the support level of 1782. This level was held by buyers, and today the price is rising in it. The price growth is corrective. The Intermediary Zone 1801 – 1799 serves as the growth target. After the test of the IZ, look for gold sales again with a target at level 1782. The main target for sales is the lower Target Zone 1778 – 1774.
If the Intermediary Zone 1801 – 1799 is broken out upside and the price closes higher at the US trading session, the next target will be the upper Target Zone 1822 – 1818. In this case, the short-term trend will reverse up.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1801 – 1799.
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.