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.
Yesterday, oil continued to correct.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is testing the support (A) 68.29 – 67.90.
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XAUUSD: gold is trying to start a correction.
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EURUSD: the euro continued its short-term uptrend yesterday. As a result, the price has exceeded the August and September 18 highs, and a correction has started.
Oil price forecast for today: USCrude analysis
Oil continued to trade in a correction yesterday. As a result, the price has breached the support (A) 69.59 – 69.33 and hit the support (B) 68.29 – 67.90, the short-term uptrend’s boundary. Therefore, consider long trades near this zone today with the first target of 70.05 and the second one of 72.20.
If the asset pierces the support (B) today, the short-term uptrend will reverse. In this case, the price may fall to the lower Target Zone 64.38 – 63.60.
USCrude trading ideas for today:
Buy above support (В) 68.29 – 67.90. TakeProfit: 70.05, 72.20. StopLoss: 66.70.
Gold forecast for today: XAUUSD analysis
Gold is trading in a short-term uptrend. If a correction unfolds, the price may fall to the support (A) 2618 – 2612. Once this zone is tested, consider long trades with the first target of 2641 and the second one of 2670.
The trend’s boundary is shifting to 2591 – 2583. One may consider long trades near this zone.
XAUUSD trading ideas for today:
Buy at support (A) 2618 – 2612. TakeProfit: 2641, 2670. StopLoss: 2601.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro surpassed the September 18 high. Thus, long trades opened at the support (A) 1.1105 – 1.1096 have brought profits, and a downward correction has emerged. As a result, the price has reached the support (A) 1.1130 – 1.1121, but bulls have managed to hold the price above this zone. Thus, consider long trades near this zone with the first target of 1.1167 and the second one of 1.1214.
If the price breaks through the support (A) 1.1130 – 1.1121 today, the euro may decline to the support (B) 1.1088 – 1.1075, the short-term uptrend’s boundary. Consider long trades near this zone.
EURUSD trading ideas for today:
Buy at support (A) 1.1130 – 1.1121. TakeProfit: 1.1167, 1.1214. StopLoss: 1.1101.
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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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