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.
Oil is in the correction to the short-term uptrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is being corrected down in the short-term uptrend. The correction target might be the test of Intermediary Zone 85.54 – 85.17. After that, one could enter new purchases according to the pattern with a target at the high of October 27.
If the market breaks through the high of October 27, it could break out the upper Target Zone 89.51 – 88.76. If the price breaks out the TZ and consolidates above, the next upside target will be Gold Zone 92.88 – 92.51.
USCrude trading ideas for today:
Buy according to the pattern in Intermediary Zone 85.54 – 85.17. TakeProfit: 89.24. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The gold traders try to turn down the short-term trend. The trend will be down if the price breaks out the Intermediary Zone 1646 – 1643 and consolidates below at the US session. In this case, one could enter sell trades with a target at the lower Target Zone 1618 – 1612.
If the price returns to the key support and consolidates above, the primary scenario will be purchasing. In this case, one should enter long trades according to the pattern with a target at the high of October 26.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1646 – 1643. TakeProfit: 1675. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD short-term trend is down. The sell target is the lower Target Zone 0.9881 – 0.9860. Last Friday, the price tested the Additional Zone 0.9984 – 0.9979 and triggered the sellers’ response. The market should break through the low of Friday. If so, we will draw new resistance levels.
If Friday’s low is not broken through, the price will be rising and break through Friday’s high. In this case, providing there is a false breakout pattern, one could sell the euro with the first target at the low of October 28.
EURUSD trading ideas for today:
Hold down short trades entered at the Additional Zone 0.9984 – 0.9979. TakeProfit: 0.9880. StopLoss: 1.0005.
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Price chart of USCRUDE 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.
