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.
Gold continued its short-term uptrend yesterday.
The article covers the following subjects:
Highlights and key points
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USCrude: yesterday, oil pierced the Gold Zone 66.25 – 65.99. The next target is Target Zone 2, 63.66 – 63.15. Consider short trades once the correction ends.
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XAUUSD: gold is growing and testing the Target Zone 2529 – 2514. If the asset breaks through this zone, the next bullish target will be the Gold Zone 2571 – 2566.
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EURUSD: The euro has reached below the September 3 low, and trades opened at resistance (B) 1.1165 – 1.1152 has hit all the bearish targets. The price should test strong resistance levels to allow traders to initiate short trades.
Oil price forecast for today: USCrude analysis
Oil maintained its short-term downtrend yesterday. The asset has breached the Gold Zone 66.25 – 65.99 and is now correcting upwards. If bulls manage to continue the correction, the quotes will climb to the resistance (A) 68.01 – 67.71. Once this zone is reached, consider short trades with the first target of 66.38 and the second one near yesterday’s low.
If oil breaks through the resistance (A), the correction will extend to the resistance (B) 69.65 – 69.20, the trend’s boundary. Consider short trades near this zone.
USCrude trading ideas for today:
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Sell at resistance (A) 68.01 – 67.71. TakeProfit: 66.38, 64.74. StopLoss: 68.53.
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Sell at resistance (B) 69.65 – 69.20. TakeProfit: 67.19, 64.74. StopLoss: 70.65.
Gold forecast for today: XAUUSD analysis
Gold continued its short-term uptrend yesterday. The price has failed to break through the Target Zone 2529 – 2514. Thus, consider closing your long trades. If the asset consolidates above this resistance, the next bullish target will be the Gold Zone 2571 – 2566.
If gold fails to break through the Target Zone 2529 – 2514, a downward correction will start, aiming to reach below the September low. If so, the correction may continue to the support (B) 2452 – 2445, the trend’s boundary. Consider long trades once this area is hit.
XAUUSD trading ideas for today:
Buy at support (B) 2452 – 2445. TakeProfit: 2488, 2531. StopLoss: 2427.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, short trades on the euro, opened at the resistance (B) 1.1165 – 1.1152, reached all the bearish targets. The next target within the short-term downtrend is the lower Target Zone 1.0949 – 1.0924. Currently, an upward correction is starting. If the correction develops, the price may test the resistance (A) 1.1107 – 1.1099. After this, one may consider short trades with the first target of 1.1061 and the second one at yesterday’s low.
The trend’s boundary is shifting to 1.1153 – 1.1141. If the asset hits this level, short trades can be considered.
EURUSD trading ideas for today:
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Sell at resistance (A) 1.1107 – 1.1099. TakeProfit: 1.1061, 1.1015. StopLoss: 1.1126.
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Sell at resistance (B) 1.1153 – 1.1141. TakeProfit: 1.1084, 1.1015. StopLoss: 1.1180.
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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.
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