Gold Forecast for Today: XAUUSD Analysis 17.01.2025

This week, gold has reversed its short-term downtrend and breached the resistance (B) 2678 – 2670. Now, the bullish target is the upper Target Zone 2773 – 2756. Consider long trades on a correction at the strong support (A) 2667 – 2661 and support (B) 2638 – 2629 with the main bullish target at yesterday’s high.

The price should break through the 2629 level to allow traders to open short positions and reverse the trend. In this case, consider short trades with the target at last year’s November low.

XAUUSD Trading Ideas for Today:

Buy at support (A) 2667 – 2661.
TakeProfit: 2693, 2724.
StopLoss: 2650.

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