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 has reached the resistance (A) 1.1094 – 1.1086 today.
The article covers the following subjects:
Highlights and key points
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USCrude: oil has started an upward correction and is approaching the resistance (B) 69.65 – 69.20. Short trades can be considered near this zone.
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XAUUSD: gold has pierced the Target Zone 2529 – 2514 and reached the Gold Zone 2571 – 2566.
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EURUSD: the euro is developing a correction within a short-term downtrend. The price has hit the resistance (A) 1.1094 – 1.1086 during the correction.
Oil price forecast for today: USCrude analysis
Yesterday, oil continued to trade in an upward correction. As a result, the asset has breached the resistance (A) 68.01 – 67.71. Today, the asset will likely try to test the resistance (B) 69.65 – 69.20. Once this zone is tested, consider short trades within the short-term downtrend. The first bearish target will be 67.18, and the second one will be the September 10 low of 64.74.
If the price breaks through the resistance (B) today, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 74.59 – 73.70.
USCrude trading ideas for today:
Sell at resistance (B) 69.65 – 69.20. TakeProfit: 67.18, 64.74. StopLoss: 70.65.
Gold forecast for today: XAUUSD analysis
Yesterday, gold broke through the Target Zone 2529 – 2514. As a result, the growth continued within the short-term uptrend, and the asset reached the Gold Zone 2571 – 2566. If the price consolidates above this zone today, the next bullish target will be the Target Zone 2, 2629 – 2619.
Consider long trades at the strong support (A) 2517 – 2512 and support (B) 2491 – 2483 with the main bullish target at today’s high.
XAUUSD trading ideas for today:
Buy at support (B) 2491 – 2483. TakeProfit: 2527, 2570. StopLoss: 2469.
Euro/Dollar forecast for today: EURUSD analysis
Today, the euro has reached the resistance (A) 1.1094 – 1.1086 within a short-term downtrend. Consider short trades at the resistance (A) with the first target of 1.1048 and the second one at the September 11 low near 1.1002.
If the price breaks through the resistance (A) today, an upward correction will continue to the resistance (B) 1.1140 – 1.1128, the trend’s boundary. Consider short trades near this zone.
The asset should breach and consolidate above the 1.1140 level to allow traders to reverse the trend and open long trades.
EURUSD trading ideas for today:
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Sell at resistance (A) 1.1094 – 1.1086. TakeProfit: 1.1048, 1.1002. StopLoss: 1.1112.
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Sell at resistance (B) 1.1140 – 1.1128. TakeProfit: 1.1071, 1.1015. StopLoss: 1.1168.
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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.
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