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.
Gold corrected in the zone of favorable buy prices 1656 – 1639.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term oil downtrend continued yesterday. As a result, the October 21 low was updated, and a 123 sell pattern was formed. After updating October 21 low, the price corrected and provided a profitable entry point.
Today hold short trades with a target at October 18 low, which is in the Gold Zone 81.36 – 80.99.
If during the trading the Intermediary Zone is broken out upside, the short-term trend will reverse up. In this case, the target for purchases will be the upper Target Zone 89.51 – 88.76.
USCrude trading ideas for today:
Hold sell trades entered in Intermediary Zone 85.38 – 85.01. TakeProfit: 81.35. StopLoss: 85.73.
Gold price forecast for today: XAUUSD analysis
Gold corrected in the zone of favorable buy prices 1656 – 1639. In this zone, open a long trade with the target in the upper Target Zone 1679 – 1674. Place a stop loss below the level of 1639.
If a decline begins during trading, within which the Intermediary Zone is broken out and the price closes lower in the American trading session, the short-term trend will reverse down. In this case, consider sales with a target in the lower Target Zone 1613 – 1607.
XAUUSD trading ideas for today:
Enter purchases in the zone of 1656 – 1639. TakeProfit: 1680. StopLoss: 1633.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro broke out the Target Zone 0.9865 – 0.9843. The next target for purchases is the Gold Zone 0.9960 – 0.9949. Now the euro is correcting in order to test a new Additional Zone 0.9845 – 0.9840. After the AZ test, consider purchases according to the pattern with the target at today’s high.
If the Additional Zone is broken out downside during the trading, the correction will continue with the target in the Intermediary Zone 0.9792 – 0.9781. The IZ serves as the border of a short-term uptrend. After the price reaches it, also consider purchases according to the pattern with the target at the day’s high.
EURUSD trading ideas for today:
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Buy according to the pattern in Additional Zone 0.9845 – 0.9840. TakeProfit: 0.9897. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 0.9792 – 0.9781. TakeProfit: 0.9897. 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.
