Short-term analysis for oil, gold, and EURUSD for 31.08.2022

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.

Yesterday, the gold downtrend continued.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, the short-term oil trend reversed down. The Intermediary Zone 92.94 – 92.51 was broken out. After this, a correction began, within which the price is approaching the Additional Zone 92.67 – 92.45. The AZ serves as a strong resistance level on the correction’s way. After reaching AZ, consider sales according to the pattern with a target at yesterday’s low.

If during the trading session the Additional Zone is broken out upside, the correction will continue with the target in the Intermediary Zone 95.03 – 94.60. After the IZ test, also consider sales with a target at yesterday’s low. 

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 92.67 – 92.45. TakeProfit: 90.39. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 95.03 – 94.60. TakeProfit: 90.39. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Yesterday, the gold downtrend continued. As a result, the price again reached the August 29 low. The next target of the fall is the Gold Zone 1710 – 1707.

Consider new gold sales on correction at strong levels, the Additional Zone 1738 – 1736 and the Intermediary Zone 1756 – 1752. IZ serves as the short-term downtrend’s border. As long as the price is trading below the trend border, it is profitable to consider sales.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1738 – 1736. TakeProfit: 1720. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 1756 – 1752. TakeProfit: 1720. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

Euro continues to trade in the flat market. According to the margin zones’ methodology, the short-term selling trend continues. Today, consider sales according to the pattern if the price returns below the Intermediary Zone 1.0016 – 1.0005. August 23 low serves as the sales target.

Price consolidation above the Intermediary Zone in the American trading session is necessary to open purchases. In this case, the short-term trend will reverse up, so it will become possible to consider purchases with a target in the upper Target Zone 1.0133 – 1.0111.

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 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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