Short-term analysis for oil, gold, and EURUSD for 24.02.2022

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.

Gold price is rising due to geopolitical tensions.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, the key support of the short-term oil uptrend was held. A classic false breakout buy pattern was also formed. As a result, the price rose, and February 22 high was updated. Now the price is trying to consolidate above the Target Zone 94.74 – 94.06. If the buyers succeed, the next buy target will be the Gold Zone 97.80 – 97.46.

Look for new oil purchases on correction in strong support levels, Additional Zone 95.18 – 95.01 and Intermediary Zone 93.48 – 93.14. Focus on today’s high as the first target for profit-taking.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 95.18 – 95.01. TakeProfit: 96.79. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 93.48 – 93.14. TakeProfit: 96.79. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Gold price is rising due to geopolitical tensions. Yesterday, the traders broke out the Gold Zone 2 1921 – 1919. The Target Zone 3 1937 – 1934 became the next buy target, which was broken out today. Now the Gold Zone 3 1951 – 1949 serves as the target of the short-term uptrend.

It is reasonable to look for new gold purchases on correction at strong levels. According to the margin zones’ methodology, the only strong level that the buyers should pay attention to is the Intermediary Zone 1934 – 1932. It serves as the border of a short-term uptrend. After reaching it, look for a buy pattern. If it breaks out downside, the trend will reverse down.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1934 – 1932. TakeProfit: 1949. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis  

The short-term euro downtrend continues, within which the Gold Zone 1.1230 – 1.1222 was reached today. This resulted in the closing of large sales and price correction in ​​the Additional Zone 1.1256 – 1.1252. The AZ serves as a strong resistance on the correction’s path. Today consider euro sales in the abovementioned AZ with a target at the day’s low.

In case of the breakout of the AZ and the level of 1.1256, the correction will continue in the Intermediary Zone 1.1305 – 1.1296. It would be reasonable to take advantage of this situation and enter long trades with the target at level 1.1300.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.1256 – 1.1252. TakeProfit: 1.1210. StopLoss: according to the pattern rules.

  2. Buy when the Additional Zone 1.1256 – 1.1252 is broken out. TakeProfit: Intermediary Zone 1.1305 – 1.1296. StopLoss: 1.1235.


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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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