Technical analysis for US Crude, XAUUSD, and EURUSD today (11 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.
After updating the local high on Friday, gold corrected back to the opening levels of the day.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Today oil price reached the upper Target Zone 80.34 – 79.83 within a short-term uptrend. Further growth will depend on the buyers’ ability to break out the Target Zone and consolidate the price above. If successful, the new target for purchases will be the Gold Zone 82.64 – 82.38.
Otherwise, there is a risk of price correction to strong support levels: Additional Zone 79.16 – 79.03 and Intermediary Zone 77.88 – 77.63. Look again for purchases according to the pattern with a target at the day’s high in the beforementioned AZ and IZ.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 79.16 – 79.02. TakeProfit: 80.35. StopLoss: according to the pattern rules.
Buy according to the pattern in Intermediary Zone 77.88 – 77.63. TakeProfit: 80.35. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
After updating the local high on Friday, gold corrected back to the opening levels of the day. Now the price is testing the zone of the trend key support 1762 – 1755. The trend remains up.
Today I recommend looking for long gold trades. Expect a pattern formation to enter a long trade.
If level 1755 is broken out downside, the trend will reverse down. In this case, sell gold with a target in the lower Target Zone 1747 – 1740.
XAUUSD trading ideas for today:
Open buy positions according to the pattern in 1762 – 1755. TakeProfit: Gold Zone 1786 – 1784. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Euro is breaking out the Additional Zone. If the price consolidates above this resistance, then the correction to the short-term downtrend will continue with the target in the Intermediary Zone 1.1626 – 1.1617. The IZ is the trend border which serves as EURUSD key resistance.
Today, consider euro purchases in the level of 1.1569 with a target at the day’s high.
If the price returns below level 1.1569, look for a sell pattern since the Additional Zone, in this case, will be considered held.
EURUSD trading ideas for today:
Buy from the level of 1.1569 / hold up purchases. TakeProfit: Intermediary Zone 1.1626 – 1.1617. StopLoss: 1.1557.
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Price chart of EURUSD 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.