Short-term analysis for oil, gold, and EURUSD for 22.10.2021

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 first target for euro purchases in the Additional Zone, which is level 1.1666, yielded profits.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil trend remains up. Yesterday, after reaching another local high, the price corrected to the zone of the trend’s key support which is level 81.13. This level was held, so the prices rose during the US trading session.

Wait for a pattern to enter oil purchases. A breakout of level 82.47 is required for a pattern formation.

A breakout of the Intermediary Zone 81.15 – 80.89 and price consolidation below are required for oil sales. In this case, consider entering short trades with a target in the lower Target Zone 78.60 – 78.09.

USCrude trading ideas for today:

    1. Buy according to the pattern in Intermediary Zone 81.15 – 80.89. TakeProfit: 83.61. StopLoss: according to the pattern rules.

    2. Sell on retest when the Intermediary Zone is broken out downside. TakeProfit: 79.10. StopLoss: beyond the local high.


    Gold price forecast for today: XAUUSD analysis

    Gold is trading in a short-term uptrend. Yesterday, within this trend, a correction in ​​the Additional Zone 1781 – 1779 occurred. The AZ was held, and a buy pattern was also formed. Today it is reasonable to hold long trades in the Additional Zone with the second target in the Target Zone 1801 – 1797, as the first target in the resistance level of 1787 was reached yesterday.

    In case of a price decline, look for new opportunities to enter long trades and consider purchases in the Additional Zone 1783 – 1782, as well as in the Intermediary Zone 1774 – 1772.

    XAUUSD trading ideas for today:

    Hold buy trades in the zone of 1780 – 1768. TakeProfit: Target Zone 1801 – 1797. StopLoss: at breakeven.


    Euro/Dollar forecast for today: EURUSD analysis 

    On Friday morning, the short-term euro uptrend continues with the main target in ​​the upper Target Zone 1.1718 – 1.1700. Yesterday, there was a correction in the Additional Zone 1.1623 – 1.1619. The AZ was held, and a slight price rise started in it. Today open long trades with the first target at level 1.1666 and the second target around ​​the upper Target Zone.

    If the Additional Zone is broken out and the price consolidates below the level of 1.1622, a “double top” sell pattern will appear. In this case, it will be profitable to sell the euro and fix profit on short trades in ​​the Intermediary Zone 1.1579 – 1.1570.

    EURUSD trading ideas for today:

    Enter purchases around Additional Zone 1.1623 – 1.1619. TakeProfit: 1.1666. StopLoss: 1.1612.


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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 LiteForex. 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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