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 euro uptrend continues.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Last Friday, the Intermediary Zone 88.64 – 88.27 worked out. As a result, October 13 low was updated. Traders also tried to break out the Target Zone 85.11 – 84.36, but the price closed in the Target Zone at the end of the trading week.
A probable target of the correction is to test the Additional Zone 86.33 – 86.15. After the AZ test, look for new sales according to the pattern with the target at last Friday’s low.
If the downtrend continues and last Friday’s low is updated, expect the price to consolidate below the Target Zone. In this case, the next target for sales will be the Gold Zone 81.36 – 80.99.
USCrude trading ideas for today:
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Sell according to the pattern in Additional Zone 86.33 – 86.15. TakeProfit: 84.36. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 88.40 – 88.02. TakeProfit: 84.36. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Last Friday, traders tried to break out the Gold Zone 1643 – 1641, but failed to consolidate the price lower. The current week began with the price growth in the Additional Zone 1655 – 1654. The AZ serves as a strong resistance, in which it is possible to consider new sales with a target at last Friday’s low.
If during the trades the decline continues and the Gold Zone is broken out, the next target for sales will be the Target Zone 2, 1615 – 1609. Otherwise, wait for the breakout of the Additional Zone upside and correction in the Intermediary Zone 1671 – 1668, which is the trend’s key resistance.
XAUUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1655 – 1654. TakeProfit: 1640. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 1671 – 1668. TakeProfit: 1640. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The short-term euro uptrend continues. On Friday, traders tried to test the trend key support of 0.9702 – 0.9692. Perhaps today it will be tested. If this happens, consider new purchases according to the pattern with a target in October 14 high.
When October 14 high is updated, growth will continue in the Target Zone 0.9865 – 0.9843.
If during trading the Intermediary Zone is broken out downside and the price closes lower in the American trading session, the short-term trend will reverse down. In this case, it will be profitable to look for sales on correction with the target in the lower Target Zone 0.9596 – 0.9575.
EURUSD trading ideas for today:
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.
