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 gold downtrend continued yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil broke out the Additional Zone 83.32 – 83.13. Today traders reached the Intermediary Zone 85.38 – 85.01. The IZ serves as the border of a short-term downtrend, so today focus on sales according to the pattern with the target at October 18 low.
If during trading the Intermediary Zone is broken out upside and the price closes higher in the American trading session, the short-term trend will reverse up. In this case, look for oil purchases with the target in the upper Target Zone 89.51 – 88.76.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 85.38 – 85.01. TakeProfit: 81.35. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The short-term gold downtrend continued yesterday. As a result, the Gold Zone 1643 – 1641 was broken out. The next target for sales is the Target Zone 2 1615 – 1609.
At the moment, the price is correcting and approaching the Additional Zone 1638 – 1636. The AZ serves as a strong resistance level. After testing this zone, look for new sales according to the pattern with a target at today’s low.
If during the trading session the Additional Zone is broken out upside, the correction will continue with the target in the trend border of 1653 – 1650. After its test, it will also be profitable to look for sales with the target at today’s low.
XAUUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1638 – 1636. TakeProfit: 1623. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 1653 – 1650. TakeProfit: 1623. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro has corrected in the key support of the short-term uptrend 0.9769 – 0.9759. Sellers tried to break out this zone yesterday, but the price closed higher in the American trading session.
Buyers’ reaction to the test of key support can be seen today. If a buy pattern forms, enter long trades with the target at October 18 high.
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, from the next trading day, consider euro sales with the target in the lower Target Zone 0.9663 – 0.9642.
EURUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 0.9769 – 0.9759. TakeProfit: 0.9873. StopLoss: according to the pattern rules.
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Price chart of XAUUSD 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.