Gold price forecast for today: XAUUSD analysis 31.01.2022

Gold is correcting to a short-term downtrend. The probable target of the correction is a test of the trend’s key resistance 1796 – 1795. After the resistance test, consider a sell pattern with the first target at Friday’s low. The second target for sales will be the Gold Zone 1778 – 1777.

In the case of the IZ breakout and price consolidation above, the short-term trend will reverse up. In this case, consider long trades with the target in the upper Target Zone 1813 – 1810.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1796 – 1795.

TakeProfit: 1780.

StopLoss: according to the pattern rules.

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