Short-term analysis for oil, gold, and EURUSD for 23.02.2022

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 euro downtrend continues. Its main target is to update February 14 low.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, oil went into a correction. The Intermediary Zone 91.25 – 90.91 was reached as part of the correction. The price didn’t break out the zone. Therefore, today continue to search for oil purchases according to the pattern with the target at yesterday’s high. If yesterday’s high is updated and the price consolidates higher, the next buy target will be the Gold Zone 97.80 – 97.46.

Oil sales require the IZ breakout and price consolidation at the US session below. In this case, the short-term trend will reverse down, and the target for sales will be the lower Target Zone 87.85 – 87.17.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone  91.25 – 90.91. TakeProfit: 94.63. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

The short-term gold uptrend continues. Yesterday, traders tested the trend key support of 1899 – 1897. The zone was held.

Today, continue searching for purchases according to the pattern with a target at yesterday’s high. To form a pattern, it is required to break out level 1905 and consolidate the price above.

Traders need to update yesterday’s low to reverse the trend and enter gold sales. In this case, the Intermediary Zone will be broken out, and the price will go to the lower Target Zone 1884 – 1881.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1899 – 1897. TakeProfit: 1913. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis  

The short-term euro downtrend continues. Its main target is to update February 14 low. Yesterday, the price corrected to the zone of ​​favorable sell prices 1.1384 – 1.1331. This zone was held. At the close of the American trading session, the price returned under the resistance levels. That’s why today look for and enter short trades with the first target at yesterday’s low.

The euro purchases are not profitable at the moment. They require a trend reversal. To reverse the trend, traders need to break out level 1.1384 and consolidate the price above.

EURUSD trading ideas for today:

Sell from the zone of 1.1360 – 1.1331. TakeProfit: 1.1288, 1.1280. StopLoss: 1.1370.


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Price chart of EURUSD 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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