Technical analysis for US Crude, XAUUSD, and EURUSD today (1 October 2021)
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 short-term gold trend reversed up after breaking out the key resistance 1744 – 1742.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil key support hasn’t been broken out, but within the upward impulse yesterday, the traders did not manage to break out the resistance 75.79 – 75.53. Now the oil price is moving away from yesterday’s high and slowly approaching the key support of the short-term uptrend 73.95 – 73.69.
If the key support is broken out with a consolidation below today, then the trend will reverse down. In this case, sell oil next week with the target at the lower Target Zone 71.40 – 70.89.
The breakout of the resistance 75.79 – 75.53 is required to enter purchases. In this case, the price will move towards the zone of 78.59 – 77.42.
USCrude trading ideas for today:
Watch the market.
Gold price forecast for today: XAUUSD analysis
Yesterday, the short-term gold trend reversed up after breaking out the key resistance 1744 – 1742 and reaching the Target Zone 1767 – 1763. After reaching the Target Zone, major traders exited longs, and the price went into correction.
At the moment sellers are trying to break out the support zone 1753 – 1752 which is the Additional Zone. It is profitable to enter purchases in the AZ according to the pattern with a target at yesterday’s high.
If the Additional Zone is broken out downside, then the correction will continue with the target in the Intermediary Zone.
XAUUSD trading ideas for today:
Buy according to the pattern in Additional Zone 1753 – 1752. TakeProfit: 1764. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, as part of the short-term downtrend, the euro set a new low and, as close as possible, approached the Target Zone 2 1.1557 – 1.1539. Now the price is moving away from local lows, approaching the resistance at 1.1592.
Breakout of level 1.1592 will allow reaching the Additional Zone 1.1611 – 1.1607. The Additional Zone is responsible for the short-term euro trend. Breakout of this resistance will allow considering purchases up to the Intermediary Zone 1.1659 – 1.1650.
If the bears hold the Additional Zone, then look for euro sales with the target at today’s low of 1.1565.
EURUSD trading ideas for today:
Sell according to the pattern in Additional Zone 1.1611 – 1.1607. TakeProfit: 1.1565. 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 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.