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.
Oil continued to trade in a short-term uptrend yesterday.
The article covers the following subjects:
Highlights and key points
-
USCrude: oil has reached the Gold Zone 76.97 – 76.67 within the growth.
-
XAUUSD: gold is declining and will likely test the support (A) 2630 – 2625 again.
-
EURUSD: the euro is correcting upward after falling last week. The correction’s target is the resistance (A) 1.1043 – 1.1035.
Oil price forecast for today: USCrude analysis
Oil continued to trade in a short-term uptrend yesterday. As a result, the price has pierced the Target Zone 74.59 – 73.70 and has reached the Gold Zone 76.96 – 76.67. The asset has failed to settle above the Gold Zone, and a correction has started. If the correction continues today, the asset may test the support (A) 74.61 – 74.28. Once this zone is tested, consider long trades with the first target of 76.10 and the second one of 77.91.
If oil breaks through the support (A) today, the correction will proceed to the support (B) 72.96 – 72.46, the trend’s boundary.
USCrude trading ideas for today:
Buy at support (A) 74.61 – 74.28. TakeProfit: 76.10, 77.91. StopLoss: 73.64.
Gold forecast for today: XAUUSD analysis
Gold continues to trade in a correction within the short-term uptrend. The price will likely test the support (A) 2630 – 2625 again. If the asset remains above this zone, the growth will continue with a target at the September high. If gold pierces this zone, the correction will continue to the support (B) 2603 – 2594.
The support (B) is the trend’s boundary. Therefore, once this zone is reached, one may consider long trades. The first bullish target will be 2640, and the second one will be 2685.
XAUUSD trading ideas for today:
Buy at support (B) 2603 – 2594. TakeProfit: 2640, 2685. StopLoss: 2578.
Euro/Dollar forecast for today: EURUSD analysis
The euro is correcting within the short-term downtrend. The potential correction’s target is the resistance (A) 1.1043 – 1.1035. Once this area is tested, consider short trades with the first target near 1.0997 and the second one at the October 4 low of 1.0951.
If the price breaches and consolidates below the Target Zone 1.0962 – 1.0936 today, the next bearish target will be the Gold Zone 1.0878 – 1.0869.
EURUSD trading ideas for today:
Sell at resistance (A) 1.1043 – 1.1035. TakeProfit: 1.0997, 1.0951. StopLoss: 1.1064.
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 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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
