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.
As a part of the upward correction in the short-term gold downtrend, the price reached the Intermediary Zone 1724 – 1721.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term oil downtrend continues. Yesterday, within the upward correction, buyers tested the Intermediary Zone 90.47 – 90.04. The zone was held, so sales according to the pattern near the IZ are a matter of primary importance. The update of September 1 low around level 85.83 serves as a sales target.
An alternative scenario will work out if the Intermediary Zone is broken out. To break out the IZ, it is necessary that the price closes above the level of 90.47 in the American session. In this case, the trend will reverse up, so consider long trades with the target in the upper Target Zone 95.20 – 94.34.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 90.47 – 90.04. TakeProfit: 85.83. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
As a part of the upward correction in the short-term gold downtrend, the price reached the Intermediary Zone 1724 – 1721. Now it is reasonable to look for a sell pattern with a target at September 1 low. If September 1 low is updated, the Target Zone 1677 – 1671 will become the next target.
To enter purchases and reverse the trend, traders need to break out the Intermediary Zone and consolidate the price higher. In this case, consider purchases on correction with the target in the upper Target Zone 1760 – 1753.
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
The upward euro correction is developing. However, the trend remains down. The Intermediary Zone 0.9994 – 0.9983 test serves as a correction target. The IZ is a trend key resistance, so after testing it, first of all consider sales with the target at September 5 low.
If the Intermediary Zone is broken out upside, the trend will reverse up. In this case, look for purchases with the target in the upper Target Zone 1.0110 – 1.0089.
EURUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 0.9994 – 0.9983. TakeProfit: 0.9879. StopLoss: according to the pattern rules.
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Price chart of XAUUSD 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.