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 euro price reached the primary sell target in the short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil short-term uptrend continues. The market tested the Intermediary Zone 85.54 – 85.17. The buyers responded, and the oil price is now rising with a target around 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 so, the next upside target will be Gold Zone 92.88 – 92.51.
It will be relevant to sell oil if the price breaks out level 85.17 and closes below at the US trading session. Of so, the short-term trend will turn down, giving an opportunity to sell.
USCrude trading ideas for today:
Hold up purchases entered in Intermediary Zone 85.54 – 85.17. TakeProfit: 89.24. StopLoss: 84.70.
Gold price forecast for today: XAUUSD analysis
Yesterday, the gold short-term trend turned down via the breakout of Intermediary Zone 1646 – 1643. The downside target is now the lower Target Zone 1618 – 1612. I recommend entering new sell trades in Additional Zone 1646 – 1644 and Intermediary Zone 1662 – 1659.
It will be relevant to buy gold if the price breaks out the upper Intermediary Zone and consolidates above today or tomorrow.
XAUUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1646 – 1644. TakeProfit: 1631. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 1662 – 1659. TakeProfit: 1631. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
EURUSD reached the primary downside target in the short-term downtrend yesterday. The market reached the lower Target Zone 0.9881 – 0.9860. After reaching the Target Zone, the price has been corrected and is now testing the Additional Zone 0.9928 – 0.9922.
The Additional Zone is a strong resistance level, where one could enter new sell trades. The downside target will be yesterday’s low.
If the price breaks out the Additional Zone upside, the correction will continue up to the Intermediary Zone 0.9986 – 0.9975. The IZ is the border of the short-term downtrend, so one could also enter sell trades there when the zone is reached by the price.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 0.9928 – 0.9922. TakeProfit: 0.9875. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 0.9986 – 0.9975. TakeProfit: 0.9875. StopLoss: according to the pattern rules.
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Price chart of EURUSD 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.
