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.
Yesterday, the short-term euro trend reversed up.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, the short-term oil downtrend continued. As a result, the price reached the lower Target Zone 85.11 – 84.36. After this, major traders exited sales, and the price corrected. As part of the correction, the traders tested the Intermediary Zone 88.64 – 88.27, but failed to break out the zone the first time.
The Intermediary Zone serves as the short-term downtrend’s border. Today, look for sales in this zone according to the pattern. The target for sales will be yesterday’s low.
However, if today the price in the American trading session consolidates above the level of 88.64, the short-term trend will reverse up. In this case, starting from Monday next week, look for oil purchases with a target in the upper Target Zone 92.77 – 92.02.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 88.64 – 88.27. TakeProfit: 84.66. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Yesterday, gold trades in the Additional Zone 1677 – 1675 yielded profits. As a result, October 11 low was updated, and the Gold Zone 1643 – 1641 was also tested. After reaching the Gold Zone, traders exited sales and sent the price into correction.
As part of the correction, the traders reached the Intermediary Zone 1673 – 1670 and unsuccessfully tried to break it out. Today, the short-term downtrend continues. Focus on looking for a sell pattern and opening a short trade with a target at yesterday’s low.
If the market does not provide a sell pattern, but breaks out the Intermediary Zone instead, and the price closes higher in the American trading session, the short-term trend will reverse up. In this case, starting from Monday next week, look for long trades with the target in the upper Target Zone 1705 – 1699.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1673 – 1670. TakeProfit: 1642. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the short-term euro trend reversed up. The Intermediary Zone 0.9748 – 0.9737 was broken out. Now the target for purchases is the upper Target Zone 0.9865 – 0.9843.
At the moment, the price is trading in correction. As part of the correction, the price may test the Additional Zone 0.9755 – 0.9750, or the Intermediary Zone 0.9702 – 0.9692. These margin zones serve as strong support levels in which it is reasonable to consider new euro purchases according to the pattern with the first target at today’s high.
To enter euro sales, traders need to almost completely engulf yesterday’s growth and consolidate the price below the Intermediary Zone.
EURUSD trading ideas for today:
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Buy according to the pattern in Additional Zone 0.9755 – 0.9750. TakeProfit: 0.9807. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 0.9702 – 0.9692. TakeProfit: 0.9807. 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.
