Technical analysis for US Crude, XAUUSD, and EURUSD today (24 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.
Euro was trading in an upward correction in the short-term downtrend yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil market reached the resistance level of 72.67 and broke out Target Zone 72.85 – 72.32 yesterday. The short-term uptrend continues. The next upside target is Gold Zone 75.12 — 74.87.
One should enter new oil purchases on the corrections to strong support levels: Additional Zone 72.27 – 72.14 and Intermediary Zone 70.99 – 70.74. Before you enter a buy, there should be a buy pattern, for example, a false breakout. A part of profits could be taken at the daily high.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 72.27 – 72.14. TakeProfit: 73.50. StopLoss: according to the pattern rules.
Buy according to the pattern in Intermediary Zone 70.99 – 70.74. TakeProfit: 73.50. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The gold market broke out Intermediary Zone 1766 – 1764 yesterday. There was no buy pattern. The short-term trend turned down. The price reached Target Zone 1746 – 1741. Therefore, all the gold trading patterns have been worked out.
The price is being corrected up in the short-term downtrend. The correction target is to test Intermediary Zone 1760 – 1758. After the zone’s test, one could enter sell trades with a target at yesterday’s low.
If the gold price breaks out Intermediary Zone and consolidates above at the US session, the trend will turn up. In this case, it will be relevant to buy starting from Monday.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1760 – 1758. TakeProfit: 1739. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD was being corrected up in the short-term downtrend yesterday. The trend border is at level 1.1744. This level is a little higher than Additional Zone 1.1732 – 1.1727; so, one could enter sell trades in the range between AZ and trend border.
Today, I suggest entering short-term sell trades in the zone of 1.1744 – 1.1727 with a target around yesterday’s low 1.1687.
It will be relevant to buy if the price breaks out level 1.1744 and consolidates above. In this case, the market could test Intermediary Zone 1.1780 — 1.1771.
EURUSD trading ideas for today:
Sell according to the pattern in the zone of 1.1744 – 1.1727. TakeProfit: 1.1687. StopLoss: according to the pattern rules.
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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.