Technical analysis for US Crude, XAUUSD, and EURUSD today (23 September 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.
The gold chart worked out the flag pattern and the price reached the primary upside target yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price has again reached the resistance, Target Zone 72.85 – 72.32. The short-term uptrend continues. The price will rise higher when buyers break out the resistance and consolidate above. In this case, the new upside target will be Gold Zone 75.12 — 74.87.
Otherwise, there will start a correction down, whose target will be the test of Additional Zone 71.17 – 71.04. In AZ, one could enter a long trade according to the pattern with a target at yesterday’s high.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 71.17 – 71.04. TakeProfit: 72.35. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The gold price chart worked out the flag pattern yesterday and reached the primary upside target in the medium-term uptrend. The price has reached Target Zone 1787 – 1783.
After the resistance was reached on the news about the Fed meeting, large traders exited longs, and the price was corrected down to the key support 1766 – 1764. Enter buy trades in the key support zone according to the pattern with a target at yesterday’s high.
If the Intermediary Zone 1766 – 1764 is broken out downside, the trend will reverse down and it will be relevant to sell with a target in the lower Target Zone 1746 — 1741.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1766 – 1764. TakeProfit: 1786. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, there was a false breakout of the high of September 21 on the news from the Fed. The price didn’t break out the resistance Additional Zone 1.1733 – 1.1715. The next downside target is Gold Zone 1.1645 — 1.1636.
The euro price is now being corrected, approaching Additional Zone 1.1732 – 1.1727. After the Additional Zone test, we shall again look for sell entries.
If the price breaks out Additional Zone upside, one could consider entering buy trades with a target in Intermediary Zone 1.1780 — 1.1771.
EURUSD trading ideas for today:
Sell according to the pattern in Additional Zone 1.1732 – 1.1727. TakeProfit: 1.1687. 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.