Gold Forecast for Today: XAUUSD Analysis 20.01.2025

At the beginning of the trading session on Monday, gold slightly increased but failed to exceed last week’s high. Consequently, a downward correction may unfold within the short-term uptrend. If the correction develops, the quotes may drop to the support (A) 2667 – 2661 or support (B) 2638 – 2629. Once these zones are tested, consider long trades with the main target at last week’s high.

If the price continues to climb and consolidates above the 2724 level, the next bullish target will be the upper Target Zone 2773 – 2756.

XAUUSD Trading Ideas for Today:

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

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