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.
Yesterday, oil exceeded the September 23 high.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is maintaining its short-term uptrend. The price has managed to exceed the previous significant high.
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XAUUSD: gold has reached the Gold Zone 2676 – 2671 and is now starting a correction.
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EURUSD: the euro continued its short-term uptrend yesterday. As a result, the price has surpassed the September 18 high.
Oil price forecast for today: USCrude analysis
Yesterday, oil reached above the September 23 high, and a correction started. If the correction persists today, the quotes will fall to the support (A) 69.59 – 69.33. Once this zone is reached, one may consider long trades with the first target of 70.77 and the second one near yesterday’s high.
If the price continues to grow and consolidates above yesterday’s high, the next bullish target will be the upper Target Zone 74.59 – 73.70.
USCrude trading ideas for today:
Buy at support (A) 69.59 – 69.33. TakeProfit: 70.77, 72.20. StopLoss: 68.80.
Gold forecast for today: XAUUSD analysis
Gold continues its short-term uptrend today. As a result, the price has hit the Gold Zone 2676 – 2671 but failed to pierce it, raising doubts about further growth.
If a downward correction unfolds today, the quotes may drop to the support (A) 2618 – 2612. Consider long trades near this zone with the first target of 2641 and the second one of 2670. If the price breaks through the support (A), the correction will proceed to the trend’s boundary 2591 – 2583.
XAUUSD trading ideas for today:
Buy at support (A) 2618 – 2612. TakeProfit: 2641, 2670. StopLoss: 2601.
Euro/Dollar forecast for today: EURUSD analysis
The euro has maintained its short-term uptrend, exceeding the September 18 high. The next bullish target is the upper Target Zone 1.1279 – 1.1254. Consider long trades on a correction at the support (A) 1.1114 – 1.1106 and support (B) 1.1072 – 1.1060. The main bullish target will be today’s high.
The price should breach and consolidate below 1.1060 to allow traders to open short trades and reverse the trend.
EURUSD trading ideas for today:
Buy at support (A) 1.1114 – 1.1106. TakeProfit: 1.1152, 1.1198. StopLoss: 1.1083.
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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.
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