2023.08.15 2023.08.15
Short-term analysis for oil, gold, and EURUSD for 15.08.2023Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/
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 oil price is being corrected.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price is being corrected. The price tested support (A) 81.40 – 81.11 yesterday. The zone hasn’t been broken out. However, there hasn’t been a buy pattern yet. Expect a buy pattern today and enter long trades with a target at the high of August 10.
If support (A) is broken out, the price will roll down to support (В) 79.95 – 79.52. One could also enter long trades in the zone as it is the trend border.
USCrude trading ideas for today:
Buy according to the pattern at support (А) 81.40 – 81.11. TakeProfit: 84.25. StopLoss: according to the pattern rules.
Buy according to the pattern at support (В) 79.95 – 79.52. TakeProfit: 84.25. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold short-term trend turned down yesterday. The price broke out the key support zone of 1925 – 1919. Now, the downside target is the lower Target Zone 1862 – 1850.
I suggest entering short trades on the correction at resistance (А) 1949 – 1945 and resistance (В) 1972 – 1965. The zone of 1972 – 1965 is the trend border. The downside target will be today’s low.
XAUUSD trading ideas for today:
Sell according to the pattern in resistance (А) 1949 – 1945. TakeProfit: 1904. StopLoss: according to the pattern rules.
Sell according to the pattern in resistance (В) 1972 – 1965. TakeProfit: 1904. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD downtrend continued yesterday. The price reached the Gold Zone 1.0891 – 1.0882. When the GZ was reached, large sell positions were closed. The price has been corrected with a target in resistance (А) 1.0980 – 1.0970. When resistance (A) is reached, one could enter new shorts with a target at yesterday’s low.
If the price breaks out resistance (A), it could go up to resistance (B) 1.1033 – 1.1018. The latter is the trend border, where one could enter sell trades too.
EURUSD trading ideas for today:
Sell according to the pattern in resistance (А) 1.0980 – 1.0970. TakeProfit: 1.0880. StopLoss: according to the pattern rules.
Sell according to the pattern in resistance (В) 1.1033 – 1.1018. TakeProfit: 1.0880. StopLoss: according to the pattern rules.
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The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. 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.
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