Technical analysis for US Crude, XAUUSD, and EURUSD today (20 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 continues to decline and is trying to break through the Target Zone 1.1733 – 1.1715.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is heading for a correction to the short-term uptrend. Traders are currently trying to break through the Additional Zone 71.60 – 71.47. The next target for correction is the Intermediary Zone 70.32 – 70.07.
Today I suggest looking for shorts at the pullback with the target in local minimum and the second target in the area of Intermediary Zone.
The price has to return to the Additional Zone and consolidate above for us to consider long trades.
USCrude trading ideas for today:
Buy according to the pattern in the area of 72.40 – 71.47. TakeProfit: 71.05. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The priority model for gold shorts from the Intermediary Zone 1768 – 1765 has worked out: the minimum of 16 September has been renewed. The price didn’t decline further. The price of gold is slightly correcting at the moment.
For it to decline further, the price has to consolidate below the Target Zone 2 1751 – 1747. In this case, look for new shorts with the target in the area of Gold Zone 2 1730 – 1728.
Alternative scenario: price rises up to the Intermediary Zone 1765 – 1762 which is the border of the short-term downtrend.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1765 – 1762. TakeProfit: 1743. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro continues to decline and is trying to break through the Target Zone 1.1733 – 1.1715. If bears are able to do this, the next target in terms of the short-term downtrend could be placed in the Gold Zone 1.1645 – 1.1636.
If the Target Zone is held by buyers, a correction will begin. During this correction, the price could reach strong levels of resistance: Additional Zone 1.1758 – 1.1754 and Intermediary Zone 1.1806 – 1.1798. New shorts could be opened at those levels according to the pattern.
EURUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1758 – 1.1754. TakeProfit: 1.1710. StopLoss: according to the pattern rules.
- Sell according to the pattern in Intermediary Zone 1.1806 – 1.1798. TakeProfit: 1.1710. StopLoss: according to the pattern rules.
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Price chart of EURUSD in real time mode
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