Short-term Analysis for Oil, Gold, and EURUSD for 23.10.2024

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 has reached the Target Zone 2.

The article covers the following subjects:

Highlights and key points

  • USCrude: oil is testing the resistance (A) 71.45 – 71.15 within a short-term downtrend.

  • XAUUSD: gold is trying to consolidate above the Target Zone 2740 – 2729 within a short-term uptrend.

  • EURUSD: the euro continues its short-term downtrend. The price has reached the Target Zone 2, 1.0794 – 1.0777.

Oil price forecast for today: USCrude analysis

Oil has corrected to the resistance (A) 71.45 – 71.15 within a short-term downtrend but failed to consolidate above it. Thus, short trades can be considered near this zone with the first target of 69.79 and the second one of 68.13.

If the price pierces the resistance (A) from below today, the correction will continue to the resistance (B) 73.11 – 72.66, the trend’s boundary.

USCrude trading ideas for today:

Hold up sales opened at resistance (A) 71.45 – 71.15. TakeProfit: 69.79, 68.13. StopLoss: 72.10.


Gold forecast for today: XAUUSD analysis

Gold continues to trade in a short-term uptrend. If the price settles above the Target Zone 2740 – 2729 today, the next bullish target will be the Gold Zone 2789 – 2784. Consider long trades on a correction at the support (A) 2698 – 2692 and support (B) 2670 – 2662. Today’s high will be the main bullish target.

XAUUSD trading ideas for today:

Buy at support (A) 2698 – 2692. TakeProfit: 2723, 2753. StopLoss: 2681.


Euro/Dollar forecast for today: EURUSD analysis

The euro has reached the Target Zone 2, 1.0794 – 1.0777, but has not broken through it. Therefore, further decline is unlikely. If bulls manage to keep the price above the Target Zone 2, a correction will start.

If the correction develops, the quotes may grow to the resistance (A) 1.0915 – 1.0904 or resistance (B) 1.0977 – 1.0960. Consider short trades near these zones with the main target at today’s low. The resistance (B) is the trend’s boundary.

EURUSD trading ideas for today:

Sell at resistance (A) 1.0915 – 1.0904. TakeProfit: 1.0853, 1.0792. StopLoss: 1.0935.


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

    Gold Slides As US Court Invalidates Trump Tariffs. Forecast as of 29.05.2025

    Risk Warning: Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since…

    Short-Term Analysis for Oil, Gold, and EURUSD for 29.05.2025

    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…

    Leave a Reply

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

    You Missed

    FTMO-Owned OANDA Fined $600,000 by U.S. Regulator Over Compliance Failures

    • May 29, 2025
    FTMO-Owned OANDA Fined $600,000 by U.S. Regulator Over Compliance Failures

    Silver and AI: The Surprising Link Fueling Next-Gen Chips

    • May 29, 2025
    Silver and AI: The Surprising Link Fueling Next-Gen Chips

    Why Over 40 Trading Platforms Have Found Themselves on America’s Derivatives Blacklist

    • May 29, 2025
    Why Over 40 Trading Platforms Have Found Themselves on America’s Derivatives Blacklist

    ASEAN China Gulf Economic Alliance Impact on the Dollar

    • May 29, 2025
    ASEAN China Gulf Economic Alliance Impact on the Dollar

    Digital Yuan vs. Digital Dollar: Which One Will Shine in the Future?

    • May 29, 2025
    Digital Yuan vs. Digital Dollar: Which One Will Shine in the Future?

    New CFD Brokerage ANAX Capital Launches in Dubai With Estimated $8 Million Backing

    • May 29, 2025
    New CFD Brokerage ANAX Capital Launches in Dubai With Estimated $8 Million Backing