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.
Wait for gold to go up from the accumulation zone 1762 – 1755.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is trading in the correction to a short-term uptrend. Yesterday, traders tested the Additional Zone 80.00 – 79.87. This zone was broken out today. Now the price is rolling back up and testing the broken-out zone as resistance.
I recommend considering oil sales in the zone of 79.87 – 80.46 with a target in the Intermediary Zone 78.72 – 78.46. It would be reasonable to take a part of profits at today’s low.
To enter purchases, it is required to break out the resistance zone 80.59 – 80.46. In this case, it will be possible to expect the price to reach level 81.13.
USCrude trading ideas for today:
Sell from the zone of 80.59 – 79.87. TakeProfit: Intermediary Zone 78.72 – 78.46. StopLoss: 80.80.
Gold price forecast for today: XAUUSD analysis
Wait for gold to go up from the accumulation zone 1762 – 1755. The short-term trend remains up. The price movement hints that the recently started price rally will continue today with the target at the October 8 high, as all support levels have not been broken out. Therefore, it is profitable to buy gold today. It is possible to enter trades at current prices (1762).
The breakout of level 1755 and price consolidation below is required for gold sales. In this case, the price fall in the lower Target Zone 1743 – 1740 will become possible.
XAUUSD trading ideas for today:
Open buy positions above level 1762. TakeProfit: Gold Zone 1786 – 1784. StopLoss: 1756.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the short-term euro downtrend continued. The Additional Zone 1.1577 – 1.1573 yielded profits. As a result, October 6 local low was updated. The Gold Zone 1.1469 – 1.1460 serves as the next target within the trend.
Now the price is correcting and approaching the Additional Zone 1.1572 – 1.1568. After testing the zone, look for new sell patterns with a target at yesterday’s low.
The Additional Zone, together with level 1.1583, represents the zone of the trend key resistance. Therefore, if this zone is broken out, then look for euro purchases with the target at the Intermediary Zone 1.1621 – 1.1612.
EURUSD trading ideas for today:
Sell according to the pattern in Additional Zone 1.1572 – 1.1568. TakeProfit: 1.1526. 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 LiteForex. The…