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
Yesterday, traders tested the key resistance of the short-term downtrend 85.38 – 85.01. The short-term downtrend continued. Today, it is relevant to look for sales in the key resistance according to the pattern with the target at October 18 low.
An alternative scenario implies breaking out of the Intermediary Zone and closing the price higher in the American session. In this case, the short-term trend will reverse up. Then from Monday next week, 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 Additional Zone 1638 – 1636 worked out, and yesterday’s low was updated.
The next target within the trend is the Target Zone 2, 1615 – 1609. Consider new sales on correction at strong levels, the Additional Zone 1635 – 1634 and the Intermediary Zone 1651 – 1648. The latter serves as the border of a short-term downtrend. As long as the price is trading below this zone, it is profitable to consider short trades.
XAUUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1635 – 1634. TakeProfit: 1620. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 1651 – 1648. TakeProfit: 1620. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The short-term euro uptrend continues. Yesterday, traders tested the Intermediary Zone 0.9769 – 0.9759, but failed to break it out. As a result, the price rose and reached the upper Target Zone 0.9865 – 0.9843.
Buyers also failed to break out the Target Zone. This caused a wave of sales. Now the price is retesting the short-term uptrend’s key support.
Today, consider new purchases according to the pattern with the target at October 18 high. If the Intermediary Zone is broken out downside and the price closes lower in the American session, then from the next trading day, consider sales with a 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 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.
