I welcome my fellow traders! I have made a price forecast for US Crude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
The short-term gold downtrend continues.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil trades in the Additional Zone 88.87 – 88.68 yielded profits. As a result, October 11 low was updated, and the price reached the lower Target Zone 85.11 – 84.36. After reaching the TZ, the price corrected and is now trading in this part of the market.
If the new Additional Zone 87.26 – 87.07 is tested within the correction, consider new sales there according to the pattern with the target at yesterday’s low.
If within the correction the Additional Zone is broken out upside, expect the price in the Intermediary Zone 89.32 – 88.94. The IZ serves as the trend’s border. After reaching it, also look for sales.
USCrude trading ideas for today:
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Sell according to the pattern in Additional Zone 87.26 – 87.07. TakeProfit: 85.11. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 89.32 – 88.94. TakeProfit: 85.11. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The short-term gold downtrend continues. Yesterday, the traders tested the Additional Zone 1676 – 1675. Today the sellers’ reaction to the test of this AZ can be seen. Sellers are trying to break out the Target Zone 1672 – 1666.
If the Target Zone is broken out downside, the next target for sales will be the Gold Zone 1643 – 1641.
If the Additional Zone is broken upside during the correction, expect the price in the Intermediary Zone 1692 – 1689. The IZ serves as the border of a short-term downtrend. After reaching it, also look for sales. Yesterday’s low will serve as the target for sales.
XAUUSD trading ideas for today:
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Hold sell trades entered in Additional Zone 1676 – 1675. TakeProfit: 1661. StopLoss: 1676.
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Sell according to the pattern in Intermediary Zone 1692 – 1689. TakeProfit: 1661. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trading in a short-term downtrend. Yesterday, traders updated October 11 low, so new resistance zones are being formed today. The Additional Zone is shifting to the levels of 0.9726 – 0.9720.
During today’s Asian session, the AZ was tested, which led to a price decline. If the downtrend develops, yesterday’s low will be updated. In this case, expect the breakout of the Gold Zone 0.9681 – 0.9671 and price drop to the Target Zone 2 0.9575 – 0.9554.
If, during the correction, the Additional Zone is broken out upside, expect the price in the Intermediary Zone 0.9784 – 0.9773. The IZ serves as the short-term downtrend’s key resistance. It is also possible to search for sales in the beforementioned IZ.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 0.9726 – 0.9720. TakeProfit: 0.9671. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 0.9784 – 0.9773. TakeProfit: 0.9671. StopLoss: according to the pattern rules.
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Price chart of XAUUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
