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 oil uptrend continues.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term oil uptrend continues. Today oil trading opened with a gap up. Growth is expected to continue. September 29 high serves as the first growth target. The second growth target is the upper Target Zone 85.32 – 84.48.
Consider oil purchases on correction at strong support levels. At the moment, Additional Zone 79.58 – 79.37 and Intermediary Zone 78.27 – 77.85 serve as strong supports.
USCrude trading ideas for today:
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Buy according to the pattern in Additional Zone 79.58 – 79.37. TakeProfit: 82.45. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 78.27 – 77.85. TakeProfit: 82.45. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Last week, on Friday, the Additional Zone 1661 – 1659 was tested. This AZ is a strong support level, in which it is possible to enter purchases with a target at September 30 high.
If September 30 high is updated during trading, afterward, the Target Zone 1677 – 1671 will be broken out. In this case, the Gold Zone 1703 – 1700 will become the next target for purchases.
If during trading the Additional Zone is broken out downside, the correction will continue with the target in the Intermediary Zone 1646 – 1643. After the IZ test, also look for purchases. The IZ serves as the short-term uptrend’s border.
XAUUSD trading ideas for today:
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Buy according to the pattern in Additional Zone 1661 – 1659. TakeProfit: 1675. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 1646 – 1643. TakeProfit: 1675. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
On Friday last week, traders tested the Intermediary Zone 0.9747 – 0.9737. The IZ was held, the short-term uptrend continued. In the second half of Friday prices began to rise. Today the growth continued with the target at September 30 high.
If September 30 high is updated, the Gold Zone 0.9864 – 0.9853 will be broken out. Thus, the next target for purchases within the trend will be the Target Zone 2, 0.9981 – 0.9959.
To enter euro sales, traders need to break out level 0.9737 and consolidate the price in the American session below. In this case, the short-term trend will reverse down.
EURUSD trading ideas for today:
Hold up buy trades entered in Intermediary Zone 0.9747 – 0.9737. TakeProfit: 0.9853. StopLoss: 0.9732.
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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.
