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 trend reversed down yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The Gold Zone 89.13 – 88.70 was reached as a part of a short-term uptrend. After that, the price began to correct. A test of the Additional Zone 86.50 – 86.29 serves as one of the possible correction targets.
After the AZ test, a new zone of favorable buy prices will appear to open new purchases with a target at today’s high. To enter trades, wait for the corresponding pattern.
If the Additional Zone is broken out downside during trading, the correction will continue with the target in the Intermediary Zone 84.39 – 83.97. The IZ serves as the border of a short-term uptrend, so after the price reaches it, first of all, look for purchases.
USCrude trading ideas for today:
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Buy according to the pattern in Additional Zone 86.50 – 86.29. TakeProfit: 88.70. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 84.39 – 83.97. TakeProfit: 88.70. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Gold is testing a strong support level of 1711 – 1709. This support is formed by an Additional Zone formed downside from yesterday’s high. Today look for long trades in the beforementioned AZ with a target at October 4 high, which is in the Target Zone 2, 1734 – 1728.
If the Additional Zone is broken out downside, wait for the update of October 5 low, which is situated in the Intermediary Zone 1700 – 1698. The IZ serves as the border of a short-term uptrend. If it is tested, then first of all look for new purchases according to the pattern.
XAUUSD trading ideas for today:
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Buy according to the pattern in Additional Zone 1711 – 1709. TakeProfit: 1728. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 1700 – 1698. TakeProfit: 1728. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The short-term euro trend reversed down yesterday. The Intermediary Zone 0.9893 – 0.9883 was broken out. After that the Target Zone 0.9787 – 0.9766 was reached. Today, traders are trying to break out the Target Zone.
If during the trading the Target Zone is broken out downside and the price closes lower in the American trading session, the next target for sales will be the Gold Zone 0.9681 – 0.9671.
If the Target Zone is held, an upward correction will begin. Correction targets are strong resistance levels, Additional Zone 0.9824 – 0.9818 and Intermediary Zone 0.9882 – 0.9871. When the price reaches these zones, look for a sell pattern. When it appears, sell the euro with the target at today’s low. The Intermediary Zone serves as the border of a short-term downtrend.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 0.9824 – 0.9818. TakeProfit: 0.9766. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 0.9882 – 0.9871. TakeProfit: 0.9766. 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.
