Short-term analysis for oil, gold, and EURUSD for 24.08.2022

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 possibility of oil growth remains.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, the price reached the upper Target Zone 94.83 – 93.97 as part of a short-term uptrend. The growth possibility remains. If today the Target Zone is broken out and the price closes higher in the American session, the next target for purchases will be the Gold Zone 98.70 – 98.27.

It is profitable to look for new oil purchases on correction at strong levels, Additional Zone 91.92 – 91.71 and Intermediary Zone 89.77 – 89.34. If the price tests these zones as part of the correction, expect the formation of a buy pattern. When it appears, buy oil with a target at yesterday’s high.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 91.92 – 91.71. TakeProfit: 94.04. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 89.77 – 89.34. TakeProfit: 94.04. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Yesterday, an Additional Zone 1745 – 1744 was broken out as part of a correction in a short-term downtrend. Therefore, further development of the correction in the Intermediary Zone 1763 – 1760 is possible. After the IZ test, consider gold sales with a target at August 22 low.

If during trading the price returns under the Additional Zone again and consolidates below, this resistance will again be considered relevant, so it will be possible to look for short trades there.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1745 – 1744. TakeProfit: 1728. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 1763 – 1760. TakeProfit: 1728. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The euro is trading in a short-term downtrend. Yesterday, a correction developed, within which the Intermediary Zone 1.0016 – 1.0005 was tested. The IZ was held by sellers, so sales in this zone remain relevant today. The target for sales will be yesterday’s low.

If yesterday’s low is updated, the Target Zone 2, 0.9944 – 0.9923 will be broken out. This means that the next trend target will be the Gold Zone 2, 0.9838 – 0.9828.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.0016 – 1.0005. TakeProfit: 0.9902. 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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