Short-term analysis for oil, gold, and EURUSD for 05.09.2022

I welcome my fellow traders! I have made a price forecast for US Crude, 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.

Today the Intermediary Zone 1.0027 – 1.0017 has worked out for the euro.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Oil is trading in a short-term downtrend. Last week, the Target Zone 88.64 – 87.78 was broken out. The next target for sales is the Gold Zone 84.34 – 83.91.

Currently, a correction is developing, within which buyers are trying to break out the Additional Zone 88.11 – 87.89. The test of the Intermediary Zone 90.47 – 90.04 serves as the probable target of the correction.

After the IZ test, look for new sales according to the pattern with a target at September 1 low.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 90.47 – 90.04. TakeProfit: 85.85. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Gold is correcting in a short-term downtrend. The test of the Intermediary Zone 1724 – 1721 serves as a correction target. After the IZ test, consider new sales with a target at September 1st low.

If during the trading, the price returns under the Additional Zone 1706 – 1705 and consolidates below, then on the next trading day, look for sales in the zone of 1724 – 1705. September 1 low will also serve as the target.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1724 – 1721. TakeProfit: 1689. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

Today the Intermediary Zone 1.0027 – 1.0017 has worked out for the euro. September 1 low has been updated. The next target for sales is the Target Zone 0.9867 – 0.9845.

It is reasonable to look for new euro sales at new resistance levels, Additional Zone 0.9935 – 0.9930 and Intermediary Zone 0.9993 – 0.9983. After testing the resistance levels, wait for a reversal pattern to open sales. Focus on today’s low as the first target.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 0.9935 – 0.9930. TakeProfit: 0.9880. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 0.9993 – 0.9983. TakeProfit: 0.9880. StopLoss: according to the pattern rules.


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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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