I welcome my fellow traders! I have made a price forecast for the 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.
The euro is attempting an upward correction after the August 30 downward reversal.
The article covers the following subjects:
Highlights and key points
-
USCrude: oil continues to offer selling opportunities. Therefore, consider holding your short trades initiated at the resistance (B) 76.79 – 76.30 open until the price reaches the target of 71.35.
-
XAUUSD: gold is declining to the target at the August 22 low. If the asset breaks through this level, the correction will continue to the support (B) 2452 – 2445 within the short-term uptrend.
-
EURUSD: the euro is trying to correct upward. If so, the price may hit the resistance (A) 1.1134 – 1.1126.
Oil price forecast for today: USCrude analysis
Oil is maintaining its short-term downtrend. An upward correction is developing. Once the correction is complete, the decline will likely continue, and the price may reach below the August low near 71.35. If the price consolidates below 71.35, the next bearish target will be the lower Target Zone 68.85 – 67.86.
In case gold sets above the resistance level of 74.07, the correction may continue to the trend’s boundary 76.79 – 76.30. If so, the price will test the resistance (B) again. In this connection, consider short trades at favorable prices in this zone.
USCrude trading ideas for today:
Hold up sales opened at resistance (B) 76.79 – 76.30. TakeProfit: 71.35. StopLoss: 76.30.
Gold forecast for today: XAUUSD analysis
Gold is trading in a correction within the short-term uptrend, approaching the support (A) 2481 – 2476. Once the asset reaches below the August 22 low and a false breakout pattern emerges near this level, long trades can be considered with the target in the Target Zone 2529 – 2514.
If gold breaches and consolidates below the August 21 low after the correction, the decrease will continue to the trend’s boundary 2452 – 2445. Consider long trades in this area with the target in the Target Zone 2529 – 2514.
XAUUSD trading ideas for today:
Buy at support (B) 2456 – 2449. TakeProfit: 2488, 2531. StopLoss: 2428.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trying to correct upward after the August 30 downward reversal. If the price touches the resistance (A) 1.1134 – 1.1126 during the correction, one may consider short trades with the first target of 1.1088. If the asset breaks through the resistance (A), the correction may continue to the trend’s boundary at 1.1180 – 1.1168. Consider short trades in this zone.
If the fall continues with no strong resistance levels reached, the price will exceed yesterday’s low. In this case, consider shifting the margin zones and wait for a correction to these areas again.
EURUSD trading ideas for today:
Sell at resistance (A) 1.1134 – 1.1126. TakeProfit: 1.1088, 1.1042. StopLoss: 1.1151.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
