I welcome my fellow traders! I have made a price forecast for USCrude, 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 is trading in a short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price is testing support (А) 88.95 - 88.62 again. If the price breaks out this zone, it will go down to support (В) 87.30 - 86.81. One could enter sell trades in either support zone with a target at the high of September 19.
If the indicated high is broken through, the next upside target will be Target Zone 94.07 - 93.41.
USCrude trading ideas for today:
Buy according to the pattern at support (А) 88.95 - 88.62. TakeProfit: 92.17. StopLoss: according to the pattern rules.
Buy according to the pattern at support (В) 87.30 - 86.81. TakeProfit: 92.17. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold short-term downtrend continues. The price broke through the low of September 21. The next downside target is level 1905. If this level is broken through, the next downside target will be level 1885.
It is relevant to enter new sell trades on the correction to the resistance of 1923 - 1922. The first downside target will be today's low.
The second resistance zone is 1934 - 1932. When the price reaches the second resistance, one could enter sell trades with a target at today's low.
XAUUSD trading ideas for today:
Hold down sell trades entered in the resistance zone of 1943 - 1939. TakeProfit: 1905. StopLoss: 1948.
Sell in the resistance zone of 1923 - 1922. TakeProfit: 1905. StopLoss: according to the pattern rules.
Sell in the resistance zone of 1934 - 1932. TakeProfit: 1905. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The shorts entered in the resistance of 1.0667 - 1.0662 yielded profits yesterday. The price went below the low of September 22 and reached Target Zone 1.0594 - 1.0574.
If the price breaks out the Target Zone, the downtrend will continue to the Gold Zone 1.0498 - 1.0488.
If the TZ is held up and the price starts a correction, the market will reach resistance (А) 1.0681 - 1.0671 or resistance (В) 1.0733 - 1.0719. One could enter sell trades in either resistance zone, with a target at yesterday's low.
EURUSD trading ideas for today:
Sell according to the pattern in resistance (А) 1.0681 - 1.0671. TakeProfit: 1.0577. StopLoss: according to the pattern rules.
Sell according to the pattern in resistance (В) 1.0733 - 1.0719. TakeProfit: 1.0577. 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.
