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 has exceeded the September 19 high today.
The article covers the following subjects:
Highlights and key points
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USCrude: oil has reversed its short-term downtrend. Now, the upper Target Zone 74.59 – 73.70 is the bullish target.
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XAUUSD: gold is testing the Target Zone 2, 2629 – 2619. If the price settles above this zone, the next bullish target will be the Gold Zone 2676 – 2671.
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EURUSD: the euro is trying to continue its short-term uptrend to the target of 1.1189. If the price consolidates above this level, the asset may reach the upper Target Zone 1.1279 – 1.1254.
Oil price forecast for today: USCrude analysis
Oil has exceeded the September 19 high within the short-term uptrend today. The growth may continue to the upper Target Zone 74.59 – 73.70.
Consider long trades on a correction at the strong support (A) 68.88 – 68.62 and support (B) 67.57 – 67.18 with the main target at today’s high.
USCrude trading ideas for today:
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Buy at support (A) 68.88 – 68.62. TakeProfit: 70.05, 71.48. StopLoss: 68.05.
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Buy at support (B) 67.57 – 67.18. TakeProfit: 69.33, 71.48. StopLoss: 66.38.
Gold forecast for today: XAUUSD analysis
Last week, gold hit the Target Zone 2629 – 2619. If the price manages to consolidate above this zone, the next bullish target will be the Gold Zone 2676 – 2671.
Consider long trades on a correction at the strong support (A) 2578 – 2573 and support (B) 2552 – 2544 with the main bullish target at today’s high.
XAUUSD trading ideas for today:
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Buy at support (A) 2578 – 2573. TakeProfit: 2602, 2631. StopLoss: 2563.
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Buy at support (B) 2552 – 2544. TakeProfit: 2588, 2631. StopLoss: 2528.
Euro/Dollar forecast for today: EURUSD analysis
The euro is maintaining its short-term uptrend, which started from the 1.1105 – 1.1050 area. The bullish target is the September 18 high. If the quotes manage to settle above this high, the next bullish target will be the upper Target Zone 1.1279 – 1.1254.
If a correction starts at current prices, the price may test the support 1.1105 – 1.1050 again. Once this zone is reached, 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 1.1105 – 1.1050. TakeProfit: 1.1120, 1.1189. StopLoss: 1.1025.
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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.
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