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 continues to trade in a correction within the short-term uptrend.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is trying to continue its short-term uptrend. Today’s main target is 71.63.
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XAUUSD: gold has set a new all-time high near 2640. If a correction develops, consider long trades at strong supports.
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EURUSD: the euro is testing the support (A) 1.1105 – 1.1096. If the price breaks through this zone, the correction will continue to the support (B) 1.1063 – 1.1050.
Oil price forecast for today: USCrude analysis
Oil is trying to continue the short-term uptrend again after yesterday’s slight correction. Today’s bullish target is yesterday’s high. If the price consolidates above this high, the growth will likely continue to the Target Zone 74.59 – 73.70 in the short term.
Consider long trades on a correction. During yesterday’s correction, the price has failed to reach the support (A) 69.03 – 68.77. If the asset tests this zone soon, one may consider long trades with the first target of 70.21 and the second one at yesterday’s high. The key trend support is shifting to 67.73 – 67.34.
USCrude trading ideas for today:
Buy at support (A) 69.03 – 68.77. TakeProfit: 70.21, 71.63. StopLoss: 68.29.
Gold forecast for today: XAUUSD analysis
Gold continues to strengthen within the short-term uptrend. Today, the price has set a new all-time high near 2640. If the asset continues to grow and exceeds today’s high, gold may hit the Gold Zone 2676 – 2671.
However, the chart shows that the price is trying to retreat below the resistance, the Target Zone 2629 – 2619. If so, the downward correction will start with the target at the support (A) 2587 – 2582. Once this support is tested, one may consider long trades with the first target of 2611 and the second one of 2640.
XAUUSD trading ideas for today:
Buy at support (A) 2587 – 2582. TakeProfit: 2611, 2640. StopLoss: 2571.
Euro/Dollar forecast for today: EURUSD analysis
The euro continues to trade in a correction within the short-term uptrend. The price is testing the support (A) 1.1105 – 1.1096. If the asset remains above the support, the growth will resume with the main target at the September 18 high. If the euro pierces the support (A), the correction will continue to the support (B) 1.1063 – 1.1050.
The 1.1063 – 1.1050 area is the trend’s key support. Thus, once the price touches it, consider long trades with the first target of 1.1120 and the second one of 1.1189. The asset should break through and consolidate below the 1.1050 level to allow traders to open short trades and reverse the trend.
EURUSD trading ideas for today:
Buy at support (B) 1.1063 – 1.1050. TakeProfit: 1.1120, 1.1189. StopLoss: 1.1025
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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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