Short-term analysis for oil, gold, and EURUSD for 21.02.2022

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.

Today as part of a short-term uptrend, gold reached the Target Zone 2 1907 – 1904.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

On Friday, the oil priority bearish pattern yielded profits, within which traders updated February 16 low. After updating the low, the price corrected to the trend key resistance zone of 91.00 – 90.66. The price didn’t break out the resistance.

The downward impulse continues today. Therefore, look for sales with a target at February 18 low.

To enter oil purchases, traders need to update today’s high and consolidate the price higher. In this case, the short-term trend will reverse up, and the target for purchases will be the upper Target Zone 94.75 – 94.07.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 91.00 – 90.66. TakeProfit: Target Zone 87.20 – 86.52. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Today as part of a short-term uptrend, gold reached the Target Zone 2 1907 – 1904. This led to the closing of large purchases. As a result, the price corrected in the Intermediary Zone 1893 – 1891.

At the moment, sellers are trying to reverse the trend down by breaking out the Intermediary Zone. If the price consolidates below level 1886, consider gold sales with a target in the lower Target Zone 1878 – 1875.

To enter gold purchases, buyers need to hold the zone of 1886 – 1993.

XAUUSD trading ideas for today:

Watch the market.


Euro/Dollar forecast for today: EURUSD analysis  

On Friday last week, traders retested the Target Zone 1.1318 – 1.1301. Today the buyers’ reaction to this support’s test can be seen. The price has risen and is again testing the Intermediary Zone 1.1376 – 1.1367. The IZ, together with level 1.1396, serves as the border of a short-term downtrend. As long as the zone of 1.1396 – 1.1367 is holding, look for euro sales according to the pattern with a target at February 14 low.

Euro purchases will be possible in the case of level 1.1396 breakout. In this case, consider long trades on the correction. The target for purchases will be the upper Target Zone 1.1473 – 1.1455.

EURUSD trading ideas for today:

Sell according to the pattern in the zone of 1.1396 – 1.1367. TakeProfit: 1.1281. 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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