Welcome, my fellow traders! I have prepared a price forecast for US Crude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I have identified entry signals for intraday traders.
Gold is trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing resistance A at 91.18–90.73.
- XAUUSD: Gold came close to resistance B at 4,235–4,220 today.
- EURUSD: The euro is trading within a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading within a short-term downtrend. The price is testing resistance A at 91.18–90.73. Currently, sellers are holding this zone. Therefore, one may consider short trades, with targets at 88.75 and 86.30.
If the price breaks above resistance A, the upward correction will continue toward resistance B at 93.61–92.95. Short trades can be considered near this zone.
USCrude Trading Ideas for Today:
Sell/hold short trades opened near resistance A at 91.18–90.73. TakeProfit: 88.75, 86.30. StopLoss: 92.24.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading within a short-term downtrend. Today, the price attempted to test the resistance at 4,235–4,220 but failed to reach it. Once the asset tests this zone and a sell signal appears, consider short trades, with the first target at 4,150 and the second target near 4,066.
If the gold price exceeds the 4,235 level, the short-term trend may turn upward.
XAUUSD Trading Ideas for Today:
Sell near resistance B at 4,235–4,220. TakeProfit: 4,150, 4,066. StopLoss: 4,262.
Euro/Dollar Forecast for Today: EURUSD Analysis
The short-term downtrend remains intact. The euro is currently trading in a correction phase. You can hold the short positions opened last week at resistance A at 1.1253–1.1245. The price has already hit the first sell target near 1.1207. The next target is the October 5 low of 1.1161.
If the euro price settles above resistance A, the upward correction will continue toward resistance B at 1.1299–1.1287.
EURUSD Trading Ideas for Today:
Hold part of short trades opened near resistance A at 1.1253–1.1245. TakeProfit: 1.1161. StopLoss: at breakeven.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best "thank you" :)
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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 broker. 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 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
