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 oil short-term uptrend continued yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil short-term uptrend continued yesterday. The upside target is the high of October 27. If this high is broken through, the price could break out Target Zone 89.51 – 88.76. In case Target Zone is broken out, the next upside target will be Gold Zone 92.88 – 92.51.
It will be relevant to sell oil if the price breaks out Intermediary Zone 85.54 – 85.17 and consolidates below at the US trade session. This scenario is now unlikely.
USCrude trading ideas for today:
Monitor the market
Gold price forecast for today: XAUUSD analysis
The gold price was corrected up in the short-term downtrend. The price broke out Additional Zone 1646 – 1644. The next target in the correction is the test of Intermediary Zone 1662 – 1659.
After the IZ is tested, look for a sell pattern. When the pattern emerges, one could sell gold with the first target at yesterday’s low.
It will be relevant to buy gold when the market breaks out Intermediary Zone and consolidates above at the US trading session.
XAUUSD trading ideas for today:
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
Euro is trading down in the short-term trend. The price was testing Additional Zone 0.9928 – 0.9922 yesterday but didn’t break it out. The local low was broken through. The price will continue falling if sellers break out Target Zone 0.9881 – 0.9860 and consolidate the price below at the US session. In this case, the downside target will be Gold Zone 0.9775 – 0.9765.
If Target Zone is held up, there could start a correction. The first target in the correction will be the test of the new Additional Zone 0.9911 – 0.9905. If this AZ is broken out upside, the correction could continue up to Intermediary Zone 0.9969 – 0.9958.
Today, one could enter euro sell trades at strong resistance levels. The first target is around yesterday’s low.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 0.9911 – 0.9905. TakeProfit: 0.9855. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 0.9969 – 0.9958. TakeProfit: 0.9855. StopLoss: according to the pattern rules.
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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.
