Short-term Analysis for Oil, Gold, and EURUSD for 31.10.2024

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 continued to correct yesterday.

The article covers the following subjects:

Highlights and key points

  • USCrude: oil is correcting upward. The correction’s target is the resistance (A) 70.19 – 69.86.

  • XAUUSD: gold is trading under the resistance 2789 – 2784.

  • EURUSD: the euro is trading in an upward correction and is approaching the resistance (A) 1.0884 – 1.0873.

Oil price forecast for today: USCrude analysis

Oil has started a correction with the target at the resistance (A) 70.19 – 69.86. Once this area is reached, consider short trades with the first target of 68.37 and the second one of 70.86.

If the price breaks through the resistance (A) today, the correction will continue to the resistance (B) 72.01 – 71.51.

USCrude trading ideas for today:

Sell at resistance (A) 70.19 – 69.86. TakeProfit: 68.37, 66.56. StopLoss: 70.86.


Gold forecast for today: XAUUSD analysis 

Yesterday, gold hit the Gold Zone 2789 – 2784 but failed to pierce it. Today, the price is correcting downward. If the correction persists, the quotes may fall to the support (A) 2735 – 2729. Consider long trades near this zone with the main target at today’s high.

If the asset breaches the support (A), the price will correct to the trend’s boundary 2707 – 2699.

XAUUSD trading ideas for today:

Buy at support (A) 2735 – 2729. TakeProfit: 2759, 2789. StopLoss: 2718.


Euro/Dollar forecast for today: EURUSD analysis

The euro continued its correction yesterday. As a result, the price has approached the resistance (A) 1.0884 – 1.0873. If the asset tests this zone, consider short trades with the first target of 1.0822 and the second one of 1.0761.

If the price breaks through the resistance (A) today, the correction will extend to the resistance (B) 1.0946 – 1.0929.

EURUSD trading ideas for today:

Sell at resistance (A) 1.0884 – 1.0873. TakeProfit: 1.0822, 1.0761. StopLoss: 1.09046.


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 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.

Rate this article:

{{value}} ( {{count}} {{title}} )

This post is originally published on LITEFINANCE.

  • Related Posts

    Apple (AAPL) Stock Forecast for 2025, 2026, 2027–2030 and Beyond

    Apple is a leading US corporation and one of the world’s largest tech and digital content companies. Its shares are highly popular among investors, as their price has continued to…

    Aussie Rises from Ashes. Forecast as of 12.02.2025

    Since Australia buys more from the US than it sells, it is not particularly frightened by Donald Trump’s trade threats. The potential retaliatory measures may be more severe than those…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    CySEC Tightens Oversight: AI, Crypto, and Fin-Fluencers Face Tougher Scrutiny

    • February 12, 2025
    CySEC Tightens Oversight: AI, Crypto, and Fin-Fluencers Face Tougher Scrutiny

    Day Trading vs. Long-Term Investing: Which is Better for You?

    • February 12, 2025
    Day Trading vs. Long-Term Investing: Which is Better for You?

    Thailand’s Border Blackout Forces Scam Gangs to Free 261 Captives: Report

    • February 12, 2025
    Thailand’s Border Blackout Forces Scam Gangs to Free 261 Captives: Report

    Apple (AAPL) Stock Forecast for 2025, 2026, 2027–2030 and Beyond

    • February 12, 2025
    Apple (AAPL) Stock Forecast for 2025, 2026, 2027–2030 and Beyond

    If You’re a Night Owl, Firstrade 24/7 Stock Trading May Be for You

    • February 12, 2025
    If You’re a Night Owl, Firstrade 24/7 Stock Trading May Be for You

    eToro Expands UK Offerings With New DIY Investment Option for Individual Saving Accounts

    • February 12, 2025
    eToro Expands UK Offerings With New DIY Investment Option for Individual Saving Accounts