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.
Yesterday, the euro reached the Gold Zone 0.9960 – 0.9949.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term oil downtrend continues. Yesterday, traders once again tried to break out the Intermediary Zone 85.38 – 85.01. However, the American trading session closed inside.
Today searching for oil sales according to the pattern and holding existing ones remain the priority. It would be reasonable to place the Stop Loss beyond yesterday’s high. Set the first Take Profit at October 24 low and the second one at October 18 low.
If the Intermediary Zone is broken out during trading, 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: 82.44, 81.32. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Gold is rising in the Intermediary Zone 1641 – 1639 as part of a short-term uptrend. The main growth target is October 24 high. The second target is the Target Zone 1679 – 1674. If during the trading the TZ is broken out upside, the new target will be the Gold Zone 1705 – 1702.
An alternative scenario implies the breakout of the Intermediary Zone downside. In this case, the trend will reverse down. Therefore, from the next trading day, it will be possible to start searching for gold sales with a target in the lower Target Zone 1613 – 1607.
XAUUSD trading ideas for today:
Hold buy trades entered in the zone of 1656 – 1639. TakeProfit: 1680. StopLoss: 1633.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro reached the Gold Zone 0.9960 – 0.9949. If today the GZ is broken out, the next growth target will be the Target Zone 2, 1.0077 – 1.0055.
It is profitable to consider new purchases on correction at strong support levels, the Additional Zone 0.9928 – 0.9923 and the Intermediary Zone 0.9875 – 0.9865. To enter purchases, wait for the zones’ test and look for the corresponding pattern.
To sell the euro, traders need to break out the Intermediary Zone downside and close the price below the zone at the American trading session.
EURUSD trading ideas for today:
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Buy according to the pattern in Additional Zone 0.9928 – 0.9923. TakeProfit: 0.9980. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 0.9875 – 0.9865. TakeProfit: 0.9980. 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.