Short-term analysis for oil, gold, and EURUSD for 07.09.2022

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.

After the test of the Intermediary Zone 1724 – 1721, the short-term downtrend continued.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, the oil price decline continued. As a result, September 1 low was updated. The next target for sales is the Gold Zone 84.34 – 83.91. If the GZ is broken out downside, the fall will continue with the target in the Target Zone 2 80.04 – 79.18.

It is profitable to consider new oil sales on correction at strong resistance levels, Additional Zone 87.22 – 87.00 and Intermediary Zone 89.58 – 89.15. After the price reaches these levels, wait for a sell pattern to form, and open a trade with the target at today’s low.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 87.22 – 87.00. TakeProfit: 84.94. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 89.58 – 89.15. TakeProfit: 84.94. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

After the test of the Intermediary Zone 1724 – 1721, the short-term downtrend continued. September 1 low serves as the main target for sales. The second target is the Target Zone 2 1677 – 1671. It is profitable to open new sales on correction in the Additional Zone 1709 – 1707.

A trend reversal by breaking out level 1724 and price consolidation higher in the American trading session are necessary to enter gold purchases. In this case, the target for purchases will be the upper Target Zone 1760 – 1753.

XAUUSD trading ideas for today:

Sell according to the pattern in Additional Zone 1709 – 1707. TakeProfit: 1689. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

Yesterday, euro trades in the Intermediary Zone 0.9994 – 0.9983 yielded profits. As a result, September 5 low was updated. Traders also tested the Target Zone 0.9867 – 0.9845. If the TZ is broken out downside during trading, the downtrend will continue with the target in the Gold Zone 0.9761 – 0.9750.

Strong resistance levels, where it is possible to enter new sales, are shifting to the zones of 0.9921 – 0.9916 and 0.9980 – 0.9969. To open sales, a pattern is needed near these zones. Focus on yesterday’s low as the first target for sales.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 0.9921 – 0.9916. TakeProfit: 0.9866. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 0.9980 – 0.9969. TakeProfit: 0.9866. 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.

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