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Gold forecast for today: XAUUSD analysis 16.09.2024

Gold continues to strengthen within the short-term uptrend. Last week, the price broke through the Gold Zone 2571 – 2566. If the asset consolidates above this zone, the next bullish target will be the Target Zone 2, 2629 – 2619.

If gold starts a correction at current prices, it may hit the support (A) 2537 – 2531. Once this zone is tested, consider long trades with the first target of 2560 and the second one at today’s high.

XAUUSD trading ideas for today:

  1. Buy at support (A) 2537 – 2531.
    TakeProfit: 2560, 2589.
    StopLoss: 2520.
  2. Buy at support (B) 2510 – 2502.
    TakeProfit: 2546, 2589.
    StopLoss: 2485.

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