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 Gold Zone 1.0878 – 1.0869 within the decline.
The article covers the following subjects:
Highlights and key points
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USCrude: oil has approached the Target Zone 68.92 – 68.02.
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XAUUSD: gold continued its short-term uptrend and reached the Gold Zone 2679 – 2674 yesterday.
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EURUSD: the euro is maintaining its short-term downtrend. The price has neared the Gold Zone 1.0878 – 1.0869.
Oil price forecast for today: USCrude analysis
Oil continued to decrease yesterday. As a result, the price has approached the lower Target Zone 68.92 – 68.02. Once this zone is reached, traders may close their high-volume short positions, leading to an upward correction.
If the correction starts from current prices, the quotes may grow to the resistance (A) 72.11 – 71.85 or the resistance (B) 73.55 – 73.16. Once these zones are reached, consider short trades with the main target near yesterday’s low.
USCrude trading ideas for today:
Sell at resistance (A) 72.11 – 71.85. TakeProfit: 70.67, 69.23. StopLoss: 72.67.
Gold forecast for today: XAUUSD analysis
Gold is testing the Gold Zone 2679 – 2674 again. If the asset pierces this resistance level, the growth may continue to the target in the Target Zone 2740 – 2729.
If the price fails to break through the Gold Zone, the asset may return to the resistance 2663 – 2658, giving a sell signal with the target at the October 10 low.
XAUUSD trading ideas for today:
Watch the market.
Euro/Dollar forecast for today: EURUSD analysis
The euro has reached the Gold Zone 1.0878 – 1.0869 as a result of the persistent decline. If the price pierces the Gold Zone, the next target within the short-term downtrend will be the Target Zone 2, 1.0794 – 1.0777. If not, an upward correction may start.
In case of an upward correction, the quotes may climb to the resistance (A) 1.0980 – 1.0971 or the resistance (B) 1.1033 – 1.1019. Once these zones are tested, consider short trades with the main target near today’s low.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0980 – 1.0971. TakeProfit: 1.0927, 1.0875. StopLoss: 1.1002.
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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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