Short-term analysis for oil, gold, and EURUSD for 29.08.2022

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.

Last week, the short-term gold downtrend continued.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil uptrend continues. The Gold Zone 98.70 – 98.27 serves as the main growth target.

The trend key support of 91.28 – 90.85 was tested last week. This led to a buyers’ reaction and a price increase. Therefore, today the uptrend continues. Consider long trades according to the pattern with the first target at August 25 high.

To enter oil sales, traders need to break out the Intermediary Zone and consolidate the price lower.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 91.28 – 90.85. TakeProfit: 95.50. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Last week, the short-term gold downtrend continued, as a result, an August 22 low was updated. Now traders are trying to consolidate the price below the abovementioned low. If successful, the next target for sales will be the Gold Zone 1710 – 1707.

It is profitable to consider new gold sales on correction at strong resistance levels, an Additional Zone 1739 – 1737 and an Intermediary Zone 1756 – 1753. To enter sales, wait for a test of the abovementioned zones and look for a reversal pattern. Focus on today’s low as the first target for sales.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1739 – 1737. TakeProfit: 1721. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 1756 – 1753. TakeProfit: 1721. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

On Friday last week, traders almost managed to break out the Intermediary Zone 1.0016 – 1.0005. However, during the American trading session, the price fell and closed below the IZ, which indicates that this key resistance was held. Therefore, today the search for sales according to the pattern to update August 23 low is a matter of primary importance.

If August 23 low is updated, the Target Zone 2, 0.9944 – 0.9923 will be broken out. This means that the next target for sales will be the Gold Zone 2, 0.9838 – 0.9828.

EURUSD trading ideas for today:

  1. Hold sell trades entered in Intermediary Zone 1.0016 – 1.0005. TakeProfit: 0.9902. StopLoss: 1.0032.

  2. Sell according to the pattern in Additional Zone 0.9972 – 0.9967. TakeProfit: 0.9915. 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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