Short-term analysis for oil, gold, and EURUSD for 18.02.2022

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.

The short-term oil downtrend continues.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil downtrend continues. Yesterday, traders tested the resistance level of 90.61. This level was held. As a result the price declined. Today it continues the downward movement. The first target of the price fall is February 16 low. The second target will be the Target Zone 87.20 – 86.52.

To enter oil purchases, the short-term trend reversal up is required. To do this, buyers need to break out level 91.94 and consolidate the price above.

USCrude trading ideas for today:

  1. Hold sell trades entered in the zone of level 90.61. TakeProfit: 88.25, Target Zone 87.20 – 86.52. StopLoss: at the breakeven.

  2. Sell according to the pattern in Intermediary Zone 91.94 – 91.60. TakeProfit: Target Zone 87.20 – 86.52. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

The short-term gold uptrend continues to develop. Yesterday, the Gold Zone 1891 – 1889 was broken out. Today buyers tried to reach the Target Zone 2 1907 – 1904, but unsuccessfully. As a result, the price declined. Now it continues to correct with a target in the Intermediary Zone 1887 – 1885.

The IZ serves as the border of the trend. After its test, look for a buy pattern. If it appears, buy the instrument with the first target at today’s high.

In case of the IZ breakout and the price consolidation below level 1885 at the American session, the short-term trend will reverse down. In this case, sell the precious metal. The sales target will be the lower Target Zone 1872 – 1869.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1887 – 1885. TakeProfit: 1902. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis  

The short-term euro downtrend continues. The sales target is February 14 low. Yesterday, traders tested the trend key resistance 1.1376 – 1.1367, but unsuccessfully.

Today, continue searching for euro sales according to the pattern with the abovementioned target. If February 14 low is updated, then wait for the price to consolidate below the Target Zone 1.1318 – 1.1301. This will lead to reaching the next target in the Gold Zone 1.1230 – 1.1222.

Entering euro purchases requires updating of February 16 high and price consolidation above. In this case, the short-term trend will reverse up, and the upper Target Zone 1.1473 – 1.1455 will become the target for purchases.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.1376 – 1.1367. TakeProfit: 1.1281. StopLoss: according to the pattern rules.

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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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